Tonik Financial, the first pure-play digital bank in Southeast Asia based in Singapore, has closed its Series A equity funding round, with $21 million in total commitments, that will finance the launch of its digital bank in the Philippines.
In a statement Monday, Tonik said the funding round was co-led by Sequoia India and Point72 Ventures and was also participated by Insignia Ventures Partners and Credence Partners, both of which chipped in a combined $6 million in the firm’s equity funding round in February.
