TymeBank, a South African digital bank, reached unicorn status in late 2024 after a successful Series D funding round valued at $1.5 billion, underscoring the growing maturity and investment appeal of Africa’s digital financial landscape. Launched in 2019, TymeBank has distinguished itself by offering simple, affordable, and easily accessible financial tools to a broad demographic, including those who have been traditionally underserved by legacy banking systems.
The bank’s innovative kiosk-based onboarding system is at the heart of its strategy. With a presence at over 700 kiosks and 14,000 till points within popular retail networks like Pick n Pay and Boxer, TymeBank allows customers to open a fully functional bank account in a matter of minutes, eliminating the need for physical branches or lengthy paperwork. This model has been transformative for financial access, bringing banking services directly to where people already shop. The bank’s offerings include high-interest savings accounts and affordable transactional banking, and its digital tools empower customers to better manage their finances. The platform’s positive impact is not merely anecdotal. A survey of its customers revealed that 73% reported a significant improvement in their financial well-being after joining the platform, while 32% stated they could handle unexpected expenses more responsibly thanks to the bank’s accessible services. TymeBank’s strategic partnership with the SmartShopper loyalty program further incentivizes its use, helping cost-conscious consumers and households stretch their budgets during challenging economic times.
