SG’s Tonik Financial closes Series A at $21m, to launch digital bank in PH

SG’s Tonik Financial closes Series A at $21m, to launch digital bank in PH

Tonik founder and CEO Greg Kasnov.

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.

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