Brazilian digital lender Nubank invests $150 million in Tyme Group

Brazilian digital bank Nubank said it has invested $150 million in Tyme Group, a digital bank with 15 million customers in South Africa and the Philippines, funding that will help Tyme Group finance its push into Southeast Asia and list by 2028. In a statement on Monday, Nubank said Tyme Group's series D funding round totalled $250 million, with M&G Catalyst Fund subscribing for $50 million and existing shareholders providing a further $50 million. Having completed its latest investment round, Singapore-based Tyme Group, backed by China's Tencent, has also achieved unicorn status after securing the funds that give it a total valuation of $1.5 billion, it said in a separate statement.