JG Summit Holdings participated in a series B round for the digital banking network and will help it apply for a licence in the Philippines.

Singapore-based digital banking network Tyme secured $110m in a series B round featuring conglomerate JG Summit Holdings and investment manager Apis Partners’ Growth Fund II, e27 reported today.

Tyme is building a digital banking network tailored for emerging markets, and operates as part of South Africa-headquartered digital retail bank TymeBank.

The company intends to use the funding to develop a digital banking operation in JG Summit’s home country, the Philippines, and the companies will work together to try and secure…

Robert Lavine

Robert Lavine is special features editor for Global Venturing.