Funding round
Tyme Group Series B
Tyme Group, which works in digital bank platform development in Singapore, raised $180M in a Series B round announced on 7 Dec 2021. 4 firms took part, 3 of them already investors. It is Tyme Group's first venture round on record.
$180M
Amount raised
Not disclosed
Post-money valuation
4
Investors
no lead named
Valuation
What this round says about the price
Tyme Group did not disclose a valuation in this round. It is Tyme Group's first venture round on record, 9 years after it was founded in 2012. It is 35% of the $508M Tyme Group has raised in the venture rounds on record. Tyme Group raised again 17 months later: a Series C round of $78M in May 2023. Its next priced round, a Series D in Dec 2024, valued it at $1.50B.
Investors
Who put money in
4 firms took part; no lead investor was named.
Investors
- Tencent existing investor
- backs 48 venture-backed companies new investor
- backs 19 venture-backed companies existing investor
- JG Summit Holdings existing investor
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, geographic expansion, sales and marketing, scaling operations and working capital.
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
21 Series B rounds in Banks & ATMs within a year either side disclosed an amount; the median was $55M, and this round was 3.3 times the median. The closest in time, other companies' Series B rounds in Banks & ATMs:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Banks & ATMs | 7 Dec 2021 | $180M | not disclosed | not named |
| Banks & ATMs | 6 Dec 2021 | $58M | not disclosed | Valar Ventures |
| Allica Bank Banks & ATMs | 24 Nov 2021 | $147M | not disclosed | Atalaya Capital Management and Warwick Capital Partners |
| Banks & ATMs | 11 Jan 2022 | $90M | $700M | Stripes |
| Banks & ATMs | 6 Jan 2022 | $90M | $800M | Sun Hung Kai & Co. |
| Banks & ATMs | 1 Nov 2021 | $50M | $315M | B Capital |
| Banks & ATMs | 9 Feb 2022 | $131M | not disclosed | Mizuho Bank |
| Banks & ATMs | 1 Aug 2021 | $55M | $500M | Valar Ventures and Target Global |
Sources
Where this comes from
Reported by 4 sources.
Questions
Frequently asked
How much did Tyme Group raise in its Series B round?
Tyme Group raised $180M in its Series B round, announced in Dec 2021.
Which investors took part in Tyme Group's Series B round?
Tencent, British International Investment, Apis Partners and JG Summit Holdings.
What was Tyme Group's valuation at the Series B round?
It was not disclosed.
How does it compare with other Series B rounds in Banks & ATMs?
21 Series B rounds in Banks & ATMs within a year either side disclosed an amount; the median was $55M, and this round was 3.3 times the median.
Did Tyme Group raise again after this round?
Yes: a Series C round in May 2023 of $78M.