NEWS
Nubank leads Tyme Group ’ s $ 250m Series D – valuing Tyme at $ 1.5bn .
Brazilian neobank Nubank led Tyme
Group ‘ s $ 250m Series D with a $ 150M investment – valuing Tyme at $ 1.5bn .
São Paulo based Nubank is one of the world ’ s largest financial services platforms with over 110 million customers .
Tyme Group , headquartered in Singapore , is a digital banking platform serving consumers and SMEs in emerging markets – it will use the funds to expand into Vietnam and Indonesia and to support its plans to go public by 2028 .
“ Since the beginning of Nubank , we have believed that the future of financial services globally is of digitally-native companies . We have met dozens of teams across different geographies , and we think that Tyme Group is extremely well-positioned to be one of the digital bank leaders in Africa and Southeast
Asia ,” said David Vélez , founder and CEO , of Nubank .
This is not Nubank ’ s first investment outside of Latin America . In August 2021 , Nubank coled a $ 45 million Series B funding round for Indian neobank Jupiter .
“ Nubank transformed financial services in Brazil . We are excited by the value that Nubank ’ s thought partnership and advice can bring to Tyme particularly in areas such as data analytics , credit risk management , product development and marketing – levers we believe are key to achieving leadership in our markets ,” said Coen Jonker , Co-Founder and CEO , Tyme Group .
Having completed its latest investment round , Tyme Group has now also firmly achieved unicorn status after securing a total of US $ 250 million in funding for a total valuation of US $ 1.5bn .
Paysafe expands its payments operations in Brazil
Paysafe has received approval from the Central Bank of Brazil ( BCB ) for a payment institution ( IP ) license to operate in the country ’ s regulated sports betting and online gaming market .
The payment institution license allows Paysafe , which also recently joined the Brazilian Association of Fintechs
( ABFintechs ), to expand its presence in Latin America ’ s regulated iGaming space .
The more than 90 global regulated iGaming jurisdictions in which Paysafe currently has a presence include Argentina , Colombia , Mexico , Panama , Paraguay , Puerto Rico and most recently Peru , whose new regulated market came online in early 2024 .
With a population of 212 million and a projected sports betting turnover of US $ 34bn by 2028 , Brazil is expected to overtake all other Latin American jurisdictions in size .
By partnering with Paysafe , Brazilian operators can offer their customers Skrill and NETELLER , the specialized iGaming digital wallets , as well as a range of other alternative payment methods ( APMs ) through the SafetyPay payment gateway , including instant bank transfers using the Brazilian Central Bank ’ s Pix payment system .
“ With this expansion , Paysafe is poised to better serve the Brazilian market with payment solutions , including the regulated iGaming market , which will mark a new era not only for Latin American gaming , but also for the global space , with the country becoming the third largest betting jurisdiction on the planet ,” said Rob Gatto , Chief Revenue Officer , Paysafe .
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