TymeBank has announced that it plans to acquire Retail Capital, a fintech funder of South African SMEs, the largest SME funder in the sector. TymeBank currently has more than 100 000 business banking customers and hopes to leverage Retail Capital’s funding expertise. The bank believes that channelling funding efficiently to business owners, helps expand the underserved small business sector. In addition, TymeBank is developing a web-based e-commerce app, with an accompanying delivery service called ‘SellOnSocial’, which will help small merchants sell their products on social media platforms.
