Neobank Tonik raises US$17M
Filipino neobank Tonik has raised US$17 million in a pre-Series B funding round, led by Singaporean VC firm iGlobe Partners.
Existing investors Sequoia India, Altara Ventures and Insignia Venture Partners also participated. They were joined by new investors, namely Citius and Baring Vostok Capital Partners, beside several unnamed Philippine family offices.
This round comes fresh off Tonik’s public launch in March 2021. The firm has since claimed to have secured US$20 million in retail deposits within just a month.