Patrice Motsepe's Tyme Group, Valued At 1.5 Billion After 250 Million Raise

Africas first Black billionaire, Patrice Motsepe, is advancing his fintech ambitions through Tyme Group, a fast-growing digital lender where he holds a significant stake. Tyme Group has raised 250 million in its latest funding round , boosting its valuation to 1.5 billion and positioning it among Africas few unicorns.

The round was led by Brazil-based Nu Holdings Ltd., Latin Americas most valuable financial company, which invested 150 million for a 10 percent stake. Nu Holdings, the owner of Nubankthe worlds largest standalone digital bank with over 110 million customersunderscored its confidence in Tyme Groups growth trajectory.

It is a unique vote of confidence in our business by the world leaders in our industry, essentially, said Coenraad Jonker, Tyme Groups CEO and co-founder. He noted this round is likely the companys last before it prepares for an initial public offering IPO by the end of 2028.

The fundraising also attracted 50 million from M Gs Catalyst Fund, alongside additional investments totaling 50 million from existing backers, including Tencent Holdings Ltd., Gokongwei Group, and venture capital firm Norrsken22.

Motsepes African Rainbow Capital Investments remains the top shareholder in Tyme Group with a 40 percent stake, reinforcing its status as South Africas only Black-owned and Black-controlled commercial bank. The lender operates under the TymeBank brand in South Africa, where it has amassed over 10 million customers since its 2019 launch.