SG’s Tonik Financial raises $6m to launch digital bank in the Philippines

Tonik founder and CEO Greg Kasnov.

Tonik Financial, the first pure-play digital bank in Southeast Asia based in Singapore, announced that it has raised $6 million in an equity funding round that will finance the launch of its digital bank in the Philippines.

In a statement, Tonik said the funding round was led by regional venture capital investors Insignia Ventures Partners and Credence Partners, with participation from regional family offices and angel investors.

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