
South Africa’s TymeBank Secures $77.8 Million in Pre-Series C Funding From Norrsken22 and Blue Earth Capital
South African digital banking leader TymeBank has secured $77.8 million in a pre-Series C funding round.
Rwazi, an African-founded artificial intelligence startup focused on market intelligence, has closed a $12 million Series A funding round.
The company plans to use the new capital to scale its simulation engine and enhance its AI assistant, designed to help businesses monitor changes, make informed decisions, and anticipate results in real-time.
Headquartered in Africa but operating on a global scale, Rwazi enables multinational brands to access zero-party consumer data—direct insights from individuals about their purchases, including what they buy, at what price, from where, when, and why.
This information helps businesses boost sales and expand into new markets.
Founded in 2018, the company began in Mauritius and has since developed both mobile and web applications.
These platforms allow users across different regions to provide detailed feedback about the products they use, whether online or offline.
Over time, Rwazi has grown beyond Africa, now serving clients and collecting data across multiple continents.
Speaking about the funding, Joseph Rutakangwa, co-founder and CEO of Rwazi, said:
“For a long time, many business decisions have relied on intuition. But in today’s fast-paced world, that’s no longer enough. This funding helps us place a real-time AI co-pilot in the hands of teams, so they can work smarter and respond with clarity.”
The funding will support Rwazi in building out its AI copilot’s capabilities, improving how it interprets data and provides actionable recommendations.
It will also allow the company to expand its global data infrastructure and simulation functions.
Rutakangwa added,
“Relying solely on instinct worked in slower markets. But now, success depends on tools that provide early insights and drive rapid, accurate responses. That’s what we’re developing.”
South African digital banking leader TymeBank has secured $77.8 million in a pre-Series C funding round.
OmniRetail, a Nigerian startup helping informal retailers manage supply chains digitally, has secured $20 million in Series A funding.
Summit Africa, a South African fund manager, has launched its second private equity fund, Summit Private Equity Fund II (SPEF II), with an initial $20 million anchor investment from British International Investment (BII), the UK’s development finance institution and impact investor.
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