57 Stars, an independent global alternative investment firm targeting high-growth sectors driven by technological innovation, is pleased to announce an investment in Tyme Group (“Tyme”), a leading global digital banking platform. The transaction marks the second investment for 57 Stars Direct Impact Fund and the fourth investment for 57 Stars Global Innovation Fund 2.
“Tyme’s digital-first business model demonstrates the potential for innovative businesses to address the unmet demand for accessible financial services,” commented Carl Balit, Managing Director at 57 Stars. “The company’s model should be replicable across several markets and result in compelling financial returns alongside positive social outcomes at scale.”
About Tyme Group
A leading international digital banking group, Tyme’s platform bridges the digital divide by seamlessly integrating low-cost online financial services into the physical retail ecosystem. Tyme has its roots in South Africa where TymeBank has become a credible alternative to local legacy banks and is now one of the world’s fastest-growing digital banks with more than 7 million customers acquired since its launch in February 2019.
TymeBank offers online accounts, bill payment, personal finance management, and buy-now-pay-later services to mobile customers, as well as business accounts, merchant transaction processing and working capital funding for small businesses. Strategic partnerships with trusted retail distributors allow customers to sign up for accounts and obtain live debit cards in under five minutes without any paperwork in a market where digital and financial literacy are low.
Such differentiated customer experience provided by a hybrid business model combining digital banking and physical onboarding points makes banking services accessible and affordable to millions of people across the economic spectrum. Following the company’s rapid growth in South Africa, Tyme is currently expanding its operations to Southeast Asia.
The company’s transformative business model promotes economic participation in markets where more than 50% of the population remains underbanked or unbanked, directly contributing to Sustainable Development Goals 1 (No Poverty), 8 (Decent Work & Economic Growth), and 10 (Reduced Inequalities).
About 57 Stars
57 Stars is an independent global alternative investment manager with more than USD 4.5 billion in commitments raised and managed, and a presence in six cities globally. Founded in 2005, the firm seeks to generate superior risk-adjusted returns by investing in high-growth sectors of the global economy driven by secular tailwinds, disruptive forces, and technological innovation.
About 57 Stars Direct Impact Fund
The Direct Impact Fund is 57 Stars’ impact-focused co-investment vehicle seeking compelling risk- adjusted returns and measurable impact outcomes. Focusing particularly on environmental sustainability, healthcare, and financial inclusion, the Direct Impact Fund leverages 57 Stars’ global platform to co-invest in tech-driven, high-growth businesses promoting environmental sustainability and improving access to products and services for underserved populations, in alignment with the Sustainable Development Goals.
About 57 Stars Global Innovation Fund 2
The Global Innovation Fund 2 is 57 Stars’ sixth-generation multi-manager investment vehicle. It is a sector-focused, global, thematic fund committing to structured partnerships, co-investments, and secondaries. Targeting high-growth sectors, the Global Innovation Fund 2 seeks to benefit from innovation in tech-enabled consumer and enterprise solutions, health and care-related technologies, environmental sustainability, and fintech / financial services.