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

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.

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief
Subscribe to Newsletter