Apis Partners and JG Summit to invest $100m in TymeBank.

Private equity fund Apis Partners and JG Summit, one of the largest conglomerates in the Philippines, agreed to invest $100m in TymeBank, a digital banking network. "We see digital banking as the next growth area globally and increasingly in ASEAN and so we are excited to partner with global investment giants Apis and ARC in taking part in this global play by building further success for South Africa’s leading digital bank TymeBank. The investment not only propels the Gokongwei Group to accelerate its foray into disruptive digital plays, it also allows us to learn more about TymeBank’s experiences that provide a good impetus for us in considering to apply their technology and success in the Philippines," Lance Gokongwei, JG Summit President and CEO.