Tonik raises USD 17 mln in Pres-Series B funding

Monday 17 May 2021 12:04 CET | News

Tonik, Philippines-based neobank, has announced that it has raised USD 17 million in Pre-Series B funding.

Led by Singapore-based iGlobe Partners, the round featured participation from existing shareholders Sequoia India, Altara Ventures, and Insignia Venture Partners as well as bringing in new investors Citius, Baring Vostok Capital Partners, and multiple Philippine family offices.

Tonik’s mission, according to Hubbis, is to improve the way money works with an all-digital way of banking operating on a digital banking platform. The neobank offers inclusive financial services, including deposit interest rates of up to 6% per annum, and saving features such as its Solo Stash and Group Stash products, as well as Term Deposits.

More: Link

Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: funding, banks, digital banking, financial services
Categories: Banking & Fintech | Online & Mobile Banking
Countries: Philippines
This article is part of category

Banking & Fintech