PH’s first neobank Tonik raises $17m in pre-Series B funding

Manila, Philippines. Photo: David Milmont/unsplash

Tonik, the recently launched first neobank in the Philippines, announced raising $17 million in pre-Series B funding led by Singapore venture capital firm iGlobe Partners.

The funding round was also backed by existing investors Sequoia India, Altara Ventures, and Insignia Ventures as well as new investors Citius, Baring Vostok Capital Partners, and a host of family offices in the Philippines, Tonik said in a statement.

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