Tonik

Tonik, the first neobank in the Philippines, is a transformative digital bank founded in 2018. The company is on a mission to revolutionize the way money works in Southeast Asia by addressing the US$140 billion retail deposit and US$100 billion unsecured retail lending opportunities in the Philippines. They aim to cater to existing Filipino banking customers and the 70% of Filipinos that remain unbanked by providing a digital-only bank that is simple, not intimidating, and easily accessible.

Tonik, headquartered in Singapore, offers retail financial products including deposits, loans, savings accounts, payments, and cards on a highly secure digital banking platform. Their approach is marked by a deep commitment to innovation, putting customers first, challenging the status quo, and leveraging technology to improve people’s financial lives.

In a significant development, Tonik became the Philippines’ first neobank to secure a digital bank license from the Bangko Sentral ng Pilipinas (BSP), with deposits insured by the Philippine Deposit Insurance Corporation (PDIC).

The company recently received a $131.00M Series B investment on 09 January 2022 from a notable group of investors, including Alpha JWC Ventures, iGlobe Partners, Insignia Venture Partners, Citius, Point 72 Ventures, Prosus Ventures, Peak XV Partners, Rahul Mehta, Nuri Group, and Sixteenth Street Capital.

Tonik’s innovative approach, strategic positioning in a promising market, and strong investor support position it as a significant player in the evolving landscape of digital banking in the Philippines and Southeast Asia.