TymeBank is set to raise $150 million in a Series D funding round, positioning it to become Africa’s next unicorn. The funds will support its expansion into Indonesia by year-end, following successful entries into Vietnam and the Philippines. CEO Coenraad Jonker revealed plans for a future IPO on the NYSE and a secondary listing on the JSE, emphasizing global and local growth.

Key Points:

• Funding Goal: TymeBank aims to secure $150 million in Series D funding to reach a $1 billion valuation.
• Expansion Plans: The funds will fuel international expansion, particularly into Indonesia, after entering Vietnam and the Philippines.
• Profitability: TymeBank became profitable in December 2023, a rare achievement among digital banks globally.
• Strategic Partnerships: Partnerships with major retailers and the Zion Christian Church have driven growth, increasing customer acquisition to 150,000 per month.
• Unique Offerings: The bank offers affordable services, high savings rates, and interest-free advances for social grant recipients.
• Lending Growth: A 30% year-on-year growth in the lending portfolio, benefiting over 50,000 SMEs.
• Future Plans: TymeBank aims to be among South Africa's top three banks in customer numbers and return on equity.

Strategic Outlook:

• IPO Plans: Jonker plans to list TymeBank on the NYSE by 2028, with a secondary listing on the JSE.
• Backed by Major Investors: The bank has strong backing from investors like Tencent, British International Investment, and Apis Growth Fund II.

Conclusion:TymeBank's journey from its 2019 launch to achieving profitability and rapid expansion highlights its resilience and strategic vision. The potential Series D funding and international growth plans underscore its commitment to becoming a leading digital bank in Africa and beyond.

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