South African digital bank, TymeBank, raises $109 million

TymeBank, the South African digital bank owned by African Rainbow Capital (ARC) has announced a $109 million fund raise from investors. It is one of the largest raises by a digital bank on the continent and comes a few months after Nigeria’s Kuda bank raised $10 million from investors. 

The startup’s new investors are Apis Growth Fund II, a private equity fund managed by Apis Partners,…

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