UnoAsia secures USD 32.1 million in funding round

Wednesday 21 February 2024 11:54 CET | News

Singapore-based UnoAsia has announced the raise of USD 32.1 million in a pre-series B round, to scale up its product offerings and add new tools for MSMEs.

The investment represented a mix of debt and equity funding, and it saw participation from Gateway Partners, Creador Private Equity, and Nextinfinity Management. With this funding round, the Uno Digital Bank will focus on making profitability its priority for 2024. 

In addition, the company will continue to focus on the process of scaling up its current product line, as well as developing and releasing more capabilities in the coming months. 


Singapore-based UnoAsia has announced the raise of USD 32.1 million in a pre-series B round, to scale up its product offerings and add new tools for MSMEs.

More information on the funding round

The UnoAsia financial institution represents the parent company of Uno Digital Bank in the Philippines. The Uno Digital Bank was developed in order to provide its partners and customers with its expertise and suite of services, including savings, transactions, insurance, and investment products. 

While aiming to accelerate its process of development, the financial institution will prioritise meeting the needs, preferences, and expectations of the Philippines’ growing bankable client base, while also remaining compliant with the regulatory requirements and laws of the local industry. Included in this strategy is the rollout of customer durable loans, a feature that was designed as a personal loan for retail and ecommerce purchases. The bank also plans to release the tool within the next months. 

At the moment, Uno Digital Bank is operating at a single-digit non-performing loan (NPL) ratio, and it aims to include health insurance products, as well as life insurance, and other general insurance services to its suite of solutions soon. 

The Uno Digital Bank will also focus on the process of introducing new products that will be personalised to the needs of MSMEs. This plan is expected to take place in the second half of 2023, as Micro-, Small, and Medium-sized Enterprises (MSMEs) represent only 10% of the company’s user base, with the rest being retail clients and users. Through this strategy, the Uno Digital Bank aims to have a ratio of 60%-40% between individual customers and MSMEs. 

Furthermore, the financial institution aims to double its customer base by the end of 2024, as officials of the bank mentioned that it currently has 1 million clients that account for USD 100 million in deposits. 

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Keywords: funding, investment, banking, online banking, digital banking, mobile banking, financial services, financial institutions
Categories: Banking & Fintech
Companies: UnoAsia
Countries: Singapore
This article is part of category

Banking & Fintech


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