THELOGICALINDIAN - Tymebank a South Africabased agenda coffer afresh completed its Series B allotment annular with 70 actor invested in the close by Tencent and UK development financier CDC Group
Funds to Support Tyme’s Expansion Into New Markets
Tymebank, a agenda coffer from South Africa, afresh aloft an added $70 actor from its latest allotment round, led by Tencent and the U.K.-based development accounts group, the CDC Group.
This latest basic accession brings the amount of funds Tymebank has acquired via the Series B to $180 million. Prior to this latest investment, Tymebank had accustomed $110 actor from Apis Growth Fund II and Gokongwei’s JG Summit Holdings.
Meanwhile, afterward the basic raise, a report by News24 states that the agenda coffer will use the new money to armamentarium its calm amplification and to facilitate the bank’s access into added markets.
“The two investor’s basic and adeptness will additionally be acclimated to advance Tyme’s adeptness to administer accident and abutment Tyme’s amplification into markets area CDC has a presence,” a account from the coffer explained.
The address adds that Tymebank will additionally use allotment of the funds aloft to abutment Gotyme in the Philippines, area it has anchored a agenda coffer authorization in affiliation with the Gokongwei Group.
In commending the bank’s adeptness to allure investors, Coen Jonker, co-founder of Tyme said: “This is a actual acceptable advance from Tencent and CDC. It is a bright vote of aplomb in our agenda cyberbanking alms as able-bodied as our administration teams in South Africa, Singapore, and the Philippines.”
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