GoTyme recently secured $13.9 million through a fresh capital injection, according to DealStreet Asia.

Parent companies JG Summit Holdings and Tyme Investments provided the additional funding, according to regulatory filings.

The digital financial institution issued over 166.4 million preference shares to secure the funds.

Tyme Investments contributed approximately $7.8 million while JG Summit provided $6.2 million.

This latest financial boost brings the total paid-up capital of the digital bank to $113.8 million.

The current funding follows a previous $10.4 million investment completed in April last year.

During that preceding round, JG Summit contributed US$4.6 million, and Tyme Investments provided $5.8 million.

The digital bank also reported improved financial metrics after narrowing its net loss during the previous fiscal year.

The firm recorded a net loss of PHP 2.95 billion last year, which improved from the previous PHP 3.44 billion loss.

Pre-provision net interest income surged by 260% to reach PHP 2.59 billion.

The financial statements indicate that total interest income jumped to PHP 3.57 billion.

GoTyme continues to operate as one of the 6 official digital banks licensed by the Bangko Sentral ng Pilipinas.

Featured image: Edited by Fintech News Philippines based on an image by vishaldesignstudio via Magnific.