Ethos Agrees to Invest USD13 Million in TymeBank
Posted On: 19 Jun 2019
South Africa-focused private equity fund manager Ethos has agreed to invest ZAR200 million (approximately USD13 million) in TymeBank, a South Africa-based digital bank. Ethos will acquire an eight percent stake in TymeBank through the Ethos AI Fund. TymeBank was officially launched in February 2019 and offers low-cost transactional banking services to underserved populations exclusively through a digital platform.