.tymebankza now has over 7 million customers and is signing on as much as 300 000 new customers a month across its South African and Philippines operations. Moneyweb Banking NtandoThukwana
TymeBank – the Patrice Motsepe-controlled digital-only bank which emerged as a challenger lender in 2019 – now has over 7 million customers and is signing on as much as 300 000 new customers a month across its South African and Philippines operations. African Rainbow Capital , which is its majority shareholder, issued an investment update on Friday confirming the latest customer and growth figures. The investment firm said TymeBank now has an annual revenue run rate of over R1.9 billion.
Listen/ read: Motsepe-controlled TymeBank secures new international investors The two investors who participated in the capital raise exercise were Norssken22, an international tech growth fund, and Blue Earth Capital, an independent global impact investment. “The Series C capital raise is currently underway with several potential investors and is expected to close later this year,” said ARC.
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