TYME GROUP has received a $250-million investment from Brazil-based digital bank Nubank (Nu), which will help fund its expansion in Asia, including GoTyme Bank.
“Nubank will become a 10% shareholder in Tyme Group. The total amount raised is $250 million, which is actually the largest fintech raise in Southeast Asia this year,” GoTyme Bank President and Chief Executive Officer Nathaniel D. Clarke told BusinessWorld in an interview last week.
“A lot of that funding will help hypercharge our growth here and get us to profitability… We now have the ammo to fulfill that vision of becoming the largest everyday retail bank here,” Mr. Clarke said.
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