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Tencent-backed TymeBank raised $150m in a series D funding round to prepare for a possible IPO

PRIVATEJun 12, 2024

Amount Raised

$150 Million

Round Type

Series D

JohannesburgFinancial Services

Investors

Tencent

Description

Tencent-backed TymeBank, Africa’s fastest growing digital bank, raised $150m in a series D funding round, bringing its valuation close to $1bn. The funding will support the company's expansion plans, including a move into Indonesia by the end of 2024.

Quick answer

TymeBank raised $150 Million in a Series D round, dated June 12, 2024. Investors: Tencent. TymeBank is based in Johannesburg, Gauteng, South Africa.

How much did TymeBank raise?
TymeBank raised $150 Million in a Series D round on June 12, 2024.
Who invested in TymeBank?
Tencent is named as investors in this round.
What does TymeBank do?
We’re a digital bank founded on simplicity, transparency and affordability.
Where is TymeBank based and how big is it?
TymeBank is based in Johannesburg, Gauteng, South Africa.
Who are the decision-makers at TymeBank?
Fundz holds 1 contact at TymeBank, including the Head of Growth. Names and contact details are shown to Fundz members.

Source: Fundz verified event record.

Who else raised in Financial Services around the same time

Companies in the same sectors as TymeBank that raised within 45 days of this round, from Fundz verified event records.

  • Stable Money raised $15M (Series A) on July 26, 2024.
  • Pacific Life raised $998K on July 26, 2024.
  • Primary Portal raised $9.6M (Series A) on July 26, 2024.
  • Revi R Therapeutics raised $30M (Series A) on July 26, 2024.
  • Strive Enterprises raised $30M (Series B) on July 26, 2024.
  • Pacific Life raised $5M on July 26, 2024.

Who to call at TymeBank, and when

A new round usually means TymeBank is about to hire and buy. The teams that reach out first get the meeting.

  • An alert the day TymeBank raises, hires an executive or expands, scored against what you sell
  • The decision-makers there, with verified emails
  • Who you already know at TymeBank, from your own LinkedIn network

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Company Information

Company

TymeBank

Location

Johannesburg, Gauteng, South Africa

About

We’re a digital bank founded on simplicity, transparency and affordability. TymeBank’s majority shareholder is African Rainbow Capital, a fully black-owned and controlled investment company, making TymeBank the first majority black-owned retail bank in South Africa. Our business is designed and run around three key principles: We believe that every South African has the right to accessible and affordable banking so that they can take part in, grow and benefit from the country’s economy. We believe in the potential of people in this country. We have designed our products, services and tools to help individuals, businesses and communities achieve everything we know they’re capable of. We constantly look for ways to empower South Africans to take back control of their money. By helping them understand how money really works and giving them a transaparent view of their own financial situation, we make it easier for our customers to make decisions today that translate into a secure financial future. www.tymebank.co.za

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Related People

1 contact
Verified contactsJarred D., Head of Growth hidden hiddenSee plans and pricing
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TymeBank raised. Fundz records a round at a median of 3.6 minutes from the SEC filing, with the decision-maker attached.

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Fundz is a real-time business intelligence platform powered by agentic AI that proactively delivers personalized daily signals, including funding rounds, executive changes, M&A activity, 13F institutional filings, SEC 8-K events, investor activity, and website modifications, based on each user's watchlist and ICP. A trusted data source at firms such as BlackRock, Oracle, Kleiner Perkins, LinkedIn, HubSpot, and Cloudflare, Fundz democratizes the institutional-grade intelligence that previously required a PitchBook or Bloomberg terminal. Features include Daily Briefing for AI-powered daily briefings, and unified cross-signal alerts across 281,000+ organizations. Developers and data teams can access these signals programmatically via the Fundz Funding Data API, with transparent published pricing.