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Tonik Raises Us$131M Series B Led By Mizuho Bank

Feb 09, 2022•almost 4 years ago

Amount Raised

$131 Million

Round Type

series b

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

About

Tonik (www.tonikbank.com) is the first digital-only neobank in the Philippines, providing loan, deposit, payment, and card products to consumers on a highly secure digital banking platform. The neobank operates on the basis of the first private digital bank license issued by the Bangko Sentral ng Pilipinas. Tonik is led by a team of retail finance veterans who have previously built and scaled multiple retail banks and fintechs across the global emerging markets. It is backed by top international venture capital funds. Tonik operates out of hubs in Singapore (HQ), Manila, Chennai, and Kyiv.

Funding Insights

Based on industry data
Tech investment trends
83% of B2B companies plan digital investments, with 79% prioritizing customer experience tech