Tonik Financial, the parent company of Tonik Digital Bank — the Philippines’ first licensed digital-only bank — has secured US$12 million in Pre-Series C funding. The round was led by Diligent Capital Partners, with participation from Plio Limited, existing investor Altara Capital, and Tonik’s own management.
The new capital strengthens Tonik Digital Bank’s regulatory position under Bangko Sentral ng Pilipinas guidelines and will support further investment in its technology platform, helping accelerate customer acquisition, cross-selling, and automation.
Tonik enters this funding round with three years of profitability-driven growth, having expanded its loan portfolio 15× to US$83 million. Its annualized revenue has now surpassed US$40 million.
The bank continues to deliver a 25%+ risk-adjusted return on capital (RAROC), and its risk-adjusted gross margin has grown 4.5× over the past year. Contribution margin turned positive in late 2024, driven by Tonik’s AI-powered credit scoring, disciplined collections, and automation across origination and servicing.
With efficiency gains compounding and operating burn declining, Tonik is on track to reach cash-flow breakeven around the first half of 2026.
Tonik’s technology and distribution system has become one of the strongest competitive advantages in Southeast Asia’s consumer finance market. The bank combines regulated, low-cost deposits with an AI risk engine trained on over three years of proprietary data, and a B2B2C network that reaches nearly 400 employers and 500+ retail partners.
Its cloud-based platform handles real-time underwriting, behavioral scoring, and automated servicing, which lowers costs and stabilizes risk. This setup allows Tonik to responsibly expand credit in a $100B+ market, where unsecured consumer lending is still among the least developed in Southeast Asia.
“This round is about scaling with discipline — protecting our capital ratios while growing a profitable, credit-led model,” said Greg Krasnov, Founder & CEO of Tonik. “Tonik was built to prove that financial inclusion in emerging markets can be delivered with truly world-class returns. The momentum we’re seeing in risk performance, technology leverage, and channel scale shows that the model works — and is ready for another 10x in the next 2-3 years.”
“While our fund’s primary focus is on Ukraine and the Black Sea basin, we also back mission-driven Ukrainian founders building globally,” said Dan Pasko, Partner at Diligent Capital Partners. “Our team supported Greg more than a decade ago in one of his prior builds, and many other high-performing Ukrainian leaders are now helping drive Tonik. That continuity gives us deep confidence in execution. Tonik’s unit-economics rigor and technology stack position it to become one of Southeast Asia’s most valuable digital banks over time.”
Tonik is the Philippines’ first digital-only neobank, operating under a full banking license from the Bangko Sentral ng Pilipinas (BSP). The bank provides loans, deposits, and embedded finance through a mobile-first platform.
Tonik is supported by leading global investors, including Mizuho Bank, Insignia Ventures, Peak XV (formerly Sequoia India), and Point72 Ventures.
Read More- Former Haptik Co-founder Launches New AI-Focused VC Fund, Activate
