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Tonik operates as a fully digital neobank, providing a comprehensive suite of retail financial products within the Philippine market. It offers deposits, loans, savings accounts, payments, and debit cards through its secure, app-based platform. The company pioneered digital banking in the region, becoming the first to secure a dedicated digital bank license in the Philippines.
Founded in 2020 by Greg Krasnov, Tonik was conceived following his successful ventures, including founding Platinum Bank in Eastern Europe and co-founding several Asian fintech startups. Krasnov identified the substantial unmet retail financial needs and large unbanked population in the Philippines, recognizing the opportunity in the nation's high digital engagement.
Tonik caters to both existing Filipino banking clients and the large unbanked demographic, offering accessible and user-friendly financial solutions. Its vision is to revolutionize banking in the Philippines by driving financial inclusion through technology. The company strives to simplify financial services, integrating banking seamlessly into customers' daily lives.
TONIK has raised $169.0M across 4 funding rounds.
TONIK has raised $169.0M in total across 4 funding rounds.
TONIK has raised $169.0M across 4 funding rounds. Most recently, it raised $12.0M Pre-Series C in December 2025.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| Dec 4, 2025 | $12M Series B Plus | DAN Pasko | Altara Capital, Plio Limited | Announced |
| Jan 1, 2022 | $130M Series B | — | 2XN, Alaya Capital, DST Global, Goodwater Capital, Fabio Muniz | Announced |
| Jun 1, 2020 | $21M Series A | Point72 Ventures, Peak XV Partners (Sequoia Capital India) | Jonathan Axelrod, Insignia Ventures Partners, Lytical Ventures, Credence | Announced |
| Feb 1, 2020 | $6M Series U | — | Insignia Ventures Partners | Announced |
Tonik is the first neobank in the Philippines, launched in 2021 as a fully digital bank licensed by the Bangko Sentral ng Pilipinas (BSP), offering deposits, payments, debit cards, and loans to drive financial inclusion in Southeast Asia where over 70% of the population is unbanked or underbanked.[3][4][5] It serves underserved consumers through a mobile app, solving access barriers with seamless, AI-powered services like instant onboarding, cash-in/out via partners (e.g., 7-Eleven), and over one million cumulative loans disbursed, with a loan portfolio expanded sevenfold in two years and operational costs cut fivefold.[2][3][5] Led by CEO Greg Krasnov with 460 employees, Tonik demonstrates strong growth momentum, including PHP 3.5 billion in deposits by August 2021 and AI efficiencies boosting customer care productivity over fourfold.[1][2][4]
Tonik was founded in 2020 by serial entrepreneur Greg Krasnov amid the COVID-19 pandemic, which spiked demand for digital financial services in the Philippines where 70% of Filipinos were unbanked.[3][4] Krasnov secured a rural bank license from the BSP in December 2019, piloted the proprietary mobile app in Q4 2020, and formally launched in March 2021—achieving PHP 1 billion in deposits within a month, a record for a new bank.[4] Early traction included USD 17 million in Pre-Series B funding (totaling over USD 44 million), an official digital bank license in June 2021, and PHP 3.5 billion in customer deposits by August 2021, marking it as Southeast Asia's first private neobank.[4] Its Singapore-based holding company, Tonik Financial Pte Ltd, supports this expansion.[4]
Tonik stands out in digital banking through:
Tonik rides the neobanking and financial inclusion wave in Southeast Asia, capitalizing on post-COVID digital adoption and regulatory shifts like BSP's digital bank licenses to serve the 70% unbanked.[2][3][4] Timing aligns with rising smartphone penetration and AI advancements, enabling rapid scaling in a market where traditional banks lag in accessibility.[2][5] Favorable forces include cloud-native tech (e.g., Finastra, Google Cloud) and partnerships for hybrid digital-physical services, positioning Tonik as a benchmark for AI-powered banking.[2][3][5][6] It influences the ecosystem by proving neobanks can achieve full licensing and massive growth, inspiring regional fintechs and accelerating unbanked onboarding.[3][4]
Tonik's trajectory points to accelerated expansion across Southeast Asia, leveraging AI for credit models, loan processing, and personalized finance to capture more of the unbanked market.[2][6] Trends like generative AI integration and regulatory support for digital banks will fuel its growth, potentially multiplying loan volumes and user base amid economic recovery.[2][3] Its influence may evolve from Philippine pioneer to regional leader, setting standards for efficient, inclusive neobanking—reinforcing its role as a transformative force in digital finance.[2][3]
TONIK has raised $169.0M in total across 4 funding rounds.
TONIK's investors include Dan Pasko, Altara Capital, Plio Limited, 2xN, Alaya Capital, DST Global, Goodwater Capital, Fabio Muniz, Point72 Ventures, Peak XV Partners (Sequoia Capital India), Jonathan Axelrod, Insignia Ventures Partners.
