#71: TymeBank - How the South African Neobank is integrating digital and physical experiences to provide holistic financial services across emerging markets

Overview: Today, we’re going to explore TymeBank - the South African neobank. We’ll discuss the story across the following areas:

African & Nigerian banking context

TymeBank's launch, early history, growth & fundraising

Product & monetization strategy

Competitive positioning & potential exit options

Overall outlook.

Companies discussed: TymeBank, African Rainbow Capital (ARC), MTN, Kuda Bank, Chipper Cash, FairMoney, Carbon, Discovery Bank, Branch, Pick N Pay, TakeAlot, Commonwealth Bank of Australia, Bank Zero, Naspers & NuBank

Business concepts discussed: International expansion, Startups and Distribution, Deposit banking, International expansion, Data sovereignty,

Conversation highlights:

(00:30) - TymeBank context

(08:15) - Context of African Banking

(24:20) - TymeBank founding story

(52:20) - Fundraising

(55:01) - Growth and geographical expansion

(1:20:03) - Product & Monetization Strategy

(1:50:08) - Competition and options for Exit

(2:00:33) - Bankole’s overall thoughts and outlook

(2:10:38) - Olumide’s overall thoughts and outlook

(2:15:00) - Recommendations and small wins

Olumide’s recommendations & small wins:

Interested in investing in Africa Tech with Olumide: Read about Adamantium fund & contact me at [email protected]. Founders looking for funding: If you're a B2B founder working on Education, Health, Finance or food, please contact me for funding at [email protected]

Checkout my FIREDOM book = FIRE (Financial Independence, Retire Early) + Freedom = personal finance and financial independence book. Website, Read: Substack Newsletter & Buy: Print, eBook or Audiobook)

Recommendation: AI 2041: Ten Visions for Our Future (Kai-Fu Lee): Great book about the potential of AI told across 10 stories

Recommendation: Dangote (song by Burna Boy). Incredible song

Recommendation: Good Bad Boy (song by Lil Kesh). Catchy and smooth chorus. With a deeper meaning about searching for companionship

Small win: I was in NYC book launch for FIREDOM Book launch. Dope.

Bankole’s recommendations & small wins:

Recommendation: Plunder by Brendan Ballou - A book on the excesses of Private Equity. PE is an example of well-intentioned policy having (unintentional?) downstream impact.

Recommendation: Business Breakdown Podcast on Mobile Gaming: The uneven distribution of paying customers in mobile gaming reminds me of emerging market telco companies

Small win: Quest 3 Headset! VR is coming along nicely.

Other content: TymeBank Holdings 2022 Financial Statement & Substack on the history of Tyme Global

Listeners: We’d love to hear from you. Email [email protected] with feedback!

Founders & Operators: We'd love to hear about what you're working on, email us at [email protected]

Investors: It would be great to link up with you. Contact us at [email protected]

Join our insider mailing list where we get feedback on new episodes & find all episodes on Afrobility.com