SingaporeProfessional ServicesFinancial ServicesMobileLending And InvestmentsPaymentsFinanceFintechLendingBanking
Description
Tonik Financial Pte Ltd ("Tonik"), the parent company of Tonik Digital Bank in the Philippines, announced today that it closed a US$131M round of Series B equity funding. The round was led by Mizuho Bank, which is one of the largest Japanese banking groups and a Top 10 bank by assets in Asia Pacific region, active in the Philippines since 1981. Other significant new investors in the round included Prosus Ventures (formerly Naspers Ventures), the co-founder of DST Partners Rahul Mehta, as well as a Singapore investment fund Sixteenth Street Capital and Indonesian family office Nuri Group.
Company Information
Company
Tonik
Location
Singapore, Southeast Asia, Singapore
About
Tonik is the first digital-only neobank in the Philippines, operating under a full banking license from the Bangko Sentral ng Pilipinas (BSP). It offers loans, deposits, and embedded finance via a mobile-first experience. The company is backed by leading global investors including Mizuho Bank, Insignia Ventures, Peak XV (formerly Sequoia India), and Point72 Ventures.
Fundz sees it the moment Tonik raises, hires an exec or expands, usually minutes after it happens, and tells you who to reach.
SingaporeProfessional ServicesFinancial ServicesMobileLending And InvestmentsPaymentsFinanceFintechLendingBanking