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Netbank, a Filipino bank specialising in embedded banking, has received investment funding from several fintech investors in Southeast Asia. The funding is said to help Netbank expand its banking infrastructure and further strengthen partnerships with local fintech companies.
“We are deeply impressed by the high capital efficiency and innovation index of the team at Netbank,” he said.
He believes that Netbank’s approach as a wholesale led neo bank, coupled with its deep understanding of customer needs, positions the company as a uniquely differentiated service to a novel fast growing customer segment in the Filipino banking market.
For context, BEENEXT has already invested in several leading technology led companies in the Philippines, including Brankas, Paynamics, Sprout and Hive Health.
Netbank is a company that enables fintech firms to integrate banking services such as lending, payments, and deposit management without the complexities of obtaining a banking license. The company has already formed partnerships with numerous fintech companies previously to facilitate their growth.
David Paulo Dela Paz
“This funding reflects investor confidence in our approach and the evolving fintech landscape in the Philippines,” David dela Paz, CEO and Co-Founder of Netbank, was caught saying.
He also shares that their goal is to continue building an ecosystem where fintech companies can thrive, offering them the banking infrastructure they need to innovate, grow, and serve the underserved.
The company anticipates raising additional funds in 2025 to support its growth and the launch of new products.
