Reading Time: < 1 minute

Tyme Group is aiming to raise more funding this year and hit a $1 Billion valuation.

TymeBank Look Unstoppable

Over the last 5 years, TymeBank has scooped up around 8.5 Million South African customers, most of whom actively bank with the bank each month (unlike some other banks that have big numbers but low actual usage). Tyme also operates as a join venture in the Philippines where it has around 2.3 million clients.

Tyme now reports they are acquiring about 1 million clients a month across the two countries.


Raising Funds & Finding New Markets

Currently the banking group are looking to raise additional funding of $100 million which will take them past a $1 Billion valuation.

This is happening as Tyme have set their eye on Vietnam where there are many young people and very low unemployment rates. This combination is appealing to Tyme Group as they feel they can quickly grow their client base and seriously compete with old brick and mortar banking brands.

Locally TymeBank recently announced their intention to move into more affluent markets with more diverse banking products. Already the bank has partnered with certain suppliers to extend credit cards and other products to clients.

Read More: TymeBank Begin To Offer Credit Cards

It appears that Tyme is on a roll.