Tymit secures seed follow-on investment from VentureFriends to fuel growth
VentureFriends backs Tymit with fresh funding following a doubling of the fintech's user base.
Tymit provides a mobile-enabled instalment credit card that allows customers to plan their repayments and avoid traditional card fees. The London-based company operates a transparent financial service designed to improve consumer financial wellness.
Tymit has secured undisclosed additional funding from VentureFriends, following a previous £4m raise last November. The new capital will be used to fuel the company's ongoing growth after a period that saw its user base and loan balances double over three months.
The fintech firm operates a mobile-enabled instalment credit card aimed at replacing traditional revolving balances with transparent repayment schedules. VentureFriends joins as an investor as Tymit looks to expand its reach and challenge legacy credit card structures.
From the founder
"We’re calling time on the traditional credit card,"
Martin Magnone
CEO and co-founder at Tymit
Use of funds
- 01Grow the team
- 02Accelerate go-to-market
