TymeBank
A branchless digital bank that uses retail kiosks and a simple mobile app to make low fee banking available to millions of South Africans.
In South Africa, banking is reliable for the middle class, but often costly and time consuming for everyone else. Opening an account can mean paperwork, waiting in queues, and monthly fees that feel unfair when income is tight.
TymeBank entered with a clear idea: if banking is digital and close to daily life, it can be cheaper, faster, and easier to trust. Instead of building branches, the bank placed smart kiosks inside supermarkets and clothing retailers where people already shop.
The result is a bank that grows through access, not through prestige.
Key Numbers
Numbers rounded for clarity and based on fiscal and interim public reporting through June 2025.
Company Information
TymeBank is South Africa’s first fully licensed digital only retail bank. It operates without branches and relies on technology plus retail partnerships to reach customers at scale.
Leadership and Ownership
| Role | Name or Group | Notes |
|---|---|---|
| Major Shareholder | African Rainbow Capital | Control partner since 2018, supports long term scale |
| Group Founder | Coen Jonker | Built Tyme model in multiple emerging markets |
| Retail Partners | Pick n Pay, Boxer, TFG | Kiosk network and daily foot traffic access |
How the Model Works
TymeBank replaces branches with retail kiosks and a mobile app. Customers can open accounts, withdraw cash, and get support through partner stores.
What TymeBank Controls
Growth and Results
TymeBank crossed 10 million customers in 2024 and continued growing into 2025. Deposits expanded in parallel, showing that customers are using the bank for real savings and daily payments.
Operational Highlights
- Fast onboarding: kiosks remove paperwork and queues
- Trust through deposits: savings base reached almost R7B in 2024
- Steady momentum: customer base grew 21 percent in FY2025
Markets and Expansion
TymeBank is the South African operation of Tyme Group. The group uses the same playbook in other high potential emerging markets.
| Market | Brand | Status |
|---|---|---|
| South Africa | TymeBank | Core market, 11.6M customers by FY2025 |
| Philippines | GoTyme | Rapid growth with retail partner network |
| Vietnam | Tyme Vietnam | Planned launch, tech team already in place |
| Indonesia | Future market | Under evaluation by the group |
Funding History
In late 2024, Tyme Group raised a major Series D round to support growth in South Africa and expansion in Asia. The round also confirmed Tyme’s unicorn status.
Competitive Landscape
TymeBank competes with both digital banks and low fee incumbents. The real advantage comes from low cost operations and mass retail access.
| Type | Players | TymeBank edge |
|---|---|---|
| Digital banks | Discovery Bank, Bank Zero, others | Largest retail kiosk footprint and fastest onboarding |
| Low fee incumbents | Capitec and major banks | No branches, lower cost base, simpler pricing |
| Informal finance | Cash plus saving groups | Digital safety with easy access points |
Key Lessons for Founders
What builders can learn from TymeBank
- Distribution wins inclusion. Meet people where they already go.
- Remove friction first. Account opening must be instant and simple.
- Price for the majority. Low fees create mass trust and scale.
- Operate lean. Cloud systems plus no branches keep costs down.
- Use data carefully. Personalize value without breaking trust.
• Customer and deposit figures from TymeBank annual statements and ARC interim results (2024 to 2025).
• Unicorn round details from Tyme Group and global financial press (Dec 2024).
Data checked November 2025.