Nubank Leads Tyme’s $250M Series D. Here’s the Story.

In December 2023, high above New York City’s financial district, a friendly introduction was made that might change the future of global finance.

Hours before he would be honored at Endeavor’s annual gala for his role in reimagining the future of entrepreneurship, David Vélez, the founder of Latin America’s largest fintech Nubank, met with 20 global entrepreneurs for an intimate Q&A session.

Among those in the room were Tjaart van der Walt and Coen Jonker, co-founders of Tyme Group, the digital bank transforming financial access across South Africa. Our president, Adrian Garcia-Aranyos, decided to make an introduction.

“They had a lot to say because they’re in similar places but in different parts of the world,” shared Adrian of why he made the intro.

Over the year following their introduction, the relationship between Nubank and Tyme deepened through knowledge-sharing sessions, culminating in Nubank visiting Tyme’s teams in South Africa and the Philippines. Fast forward a year and Nubank is now leading Tyme’s $250 million Series D funding round.

That boosted Tyme, less than 6 years old, to unicorn status with a $1.5 billion valuation.

The investment is also part of a revolutionary transformation in how entrepreneurs from emerging markets are supporting each other across the world, bypassing traditional financial capitals like London and New York and rewriting the rules of the global financial system. One that we are witnessing firsthand.

Parallel Paths, Shared Ambitions

Though separated by continents, Nubank and Tyme share a mission: to democratize financial access and disrupt legacy systems. Their first meeting was a spark of a natural alignment.

When David launched Nubank in 2013, Brazil was dominated by five banks controlling 80% of the market. High fees and poor customer service left millions underbanked. Nubank’s no-fee credit cards and user-friendly digital platform changed the game, now empowering over 110 million customers across Brazil, Mexico, and Colombia. The publicly traded company is now valued at ~$70B.

Six years later, in South Africa, Tyme faced a similar challenge. Four legacy banks control 90% of South Africa’s financial assets. Tyme’s solution? Physical kiosks staffed with ambassadors who help users open accounts in under five minutes.

Tyme expanded outside Africa in the Philippines and made headlines in January 2024 as it became the world’s fastest profitable standalone digital bank, serving over 15 million users across South Africa and the Philippines. The company is now headquartered in Singapore, with the Philippines as its largest Asian market, and expansion underway in Vietnam and Indonesia.

‘The more you share, the more you get back’

Across continents, these founders are rewriting financial inclusion and giving people access to products and services that they’ve never had before.

For Tyme, the partnership unlocks access to Nubank’s expertise in digital credit, global visibility, and validation for its IPO ambitions.

“We’ve always believed that you share as much as possible. There’s nothing that we hide because the important thing is access to the market,” Tjaart reflected.

A new capital shift between entrepreneurs 

Nubank’s lead investment in Tyme signals a broader trend: emerging market founders reinvesting in their ecosystems and leading their own growth. 

“These entrepreneur-to-entrepreneur alliances are reshaping global venture capital,” said Allen Taylor, Managing Partner of Endeavor Catalyst. “Founders who know their markets better than anyone are taking the reins to build the future.”

Across the globe, Endeavor Entrepreneurs are driving this shift: 

• Mercado Libre, founded by Marcos Galperin, is shaping Latin America’s startup ecosystem through its venture arm, using its position as the largest ecosystem in the region to invest in early-stage tech companies. Today, they’ve invested in 28 companies with a total valuation of over $9 billion.  

• Checkout.com, founded by Guillaume Pousaz led Tamara’s 2021 $110 million funding round, one of the Middle East’s largest rounds, and participated in the most recent $340 million round that brought Tamara to unicorn status. 

• UnifonicX, the investment arm of Unifonic, founded by Hassan and Ahmed Hamdan, is investing in startups in Saudi Arabia and MENA, using their Accelerator Program to empower entrepreneurship across the region. 

Emerging market founders are driving change by sharing knowledge and building solutions uniquely tailored to their markets. This movement is about creating networks that leapfrog legacy systems.

“This is the power of collaboration,” said Alison Collier Managing Director of Endeavor South Africa. “Emerging markets have the talent, the ideas, and now, the capital to build their own futures.”

As David Vélez and Tyme’s founders continue their partnership together, they prove what’s possible when entrepreneurs invest in each other—not just with capital, but with trust, knowledge, and a shared vision for a better future.

Their collaboration is more than financial—it’s about trust and mutual learning. Their combined talent and innovation will drive solutions for digital banking across emerging markets. It’s also another example of Endeavor’s Multiplier Effect — the idea of founders building up their ecosystems by developing future generations of entrepreneurs.