Tonik Financial, the parent company of the Philippines’ first licensed digital-only bank, Tonik Digital Bank, has raised US$12 million in a Pre-Series C financing round.

Diligent Capital Partners led the investment round. They were joined by Plio Limited, existing shareholder Altara Capital, and the Tonik management team.

According to the company, the fresh capital will strengthen the bank’s regulatory capital position. This ensures compliance with the requirements set by the Bangko Sentral ng Pilipinas (BSP).

The funds will also support continued investment in Tonik’s technology platform to improve customer acquisition and automation.

Tonik enters this funding round following a period of significant growth. The bank reported that its loan portfolio has expanded 15 times to US$83 million, with annualised revenue reaching over US$40 million.

Supported by AI-powered credit scoring and automated servicing, the bank stated its contribution margin turned positive in late 2024. Current projections point to cash-flow breakeven by the first half of 2026.

Winner of the Fintech Frontiers 50 awards, Greg Krasnov, Founder and CEO of Tonik, emphasised the focus on sustainable growth.

“This round is about scaling with discipline — protecting our capital ratios while growing a profitable, credit-led model,” Krasnov said. “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.”

The bank operates a B2B2C distribution network spanning nearly 400 employers and over 500 retail partners.

Dan Pasko, Partner at Diligent Capital Partners, highlighted the firm’s history with Tonik’s leadership.

“Our team supported Greg more than a decade ago in one of his prior builds… Tonik’s unit-economics rigour and technology stack position it to become one of Southeast Asia’s most valuable digital banks over time,” Pasko said.

Featured image: Edited by Fintech News Philippines based on images by Tonik.