Clifford Chance

Clifford Chances advises Nubank on its Series D investment of US$150 million in Tyme Group

Global law firm Clifford Chance has advised Nubank, the world's largest digital bank by market value, on its investment of US$150 million in Tyme Group as the lead investor in its Series D funding round. The total investment round amounted to US$250 million. TymeBank is one of the fastest-growing digital banks globally, with 15 million customers and operations in South Africa and the Philippines and this investment will bring TymeBank into a select club of Africa-related “unicorns”.

Nubank is one of the world’s largest digital financial services platforms, serving 110 million customers across Brazil, Mexico, and Colombia. Nubank has been leading an industry transformation by leveraging data and proprietary technology to develop innovative products and services. 

Nigel Wellings, Private Equity partner and Head of Corporate, London at Clifford Chance commented: "We are thrilled to have supported Nubank on its investment in TymeBank. This transaction not only underscores Nubank's commitment to investing in emerging markets but also highlights the growing importance of digital banking solutions globally."

The Clifford Chance team advising Nubank was led by partner Nigel Wellings, senior associate Hudson Archer, and associate Karim Vellani; with support in Singapore from partner Melissa Ng, and associate Wenkai Lyu. Cliffe Dekker Hofmeyr provided South African law advice.