Motsepe's Stake In Tyme Soars To 600 Million Following Record Funding Round

Africas first Black billionaire, Patrice Motsepe, has seen his indirect 40 percent stake in Singapore-based Tyme Group surge to 600 million after the digital banking group completed a landmark funding round. Tyme, which operates in Africa and Southeast Asia, in December raised 250 million in its Series D capital raise , pushing its valuation to 1.5 billion.

The funding round , the largest fintech raise in Southeast Asia in 2024, was led by Nubank, the worlds largest digital bank with over 110 million customers, which invested 150 million for a 10 percent stake. Other existing shareholders, including African Rainbow Capital Investments ARCMotsepes investment vehiclecontributed 50 million.

The oversubscribed round highlights Tyme Groups global appeal, with its investor base featuring heavyweights such as Tencent, British International Investment, The Gokongwei Group, and Norrsken22.

Tyme Group, 40 percent owned by Motsepes ARC, is South Africas only Black-owned and Black-controlled commercial bank. Operating as TymeBank in South Africa, it has attracted over 10 million customers since its 2019 launch. Internationally, it extends its reach through GoTymeBank in the Philippines, a joint venture with the Gokongwei Group.

Together, these brands serve more than 15 million customers worldwide, blending digital convenience with physical accessibility through an innovative phygital model, which integrates online banking with in-store service points.