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    Tonik Bank

    Philippines’ First Digital Bank

    Founded
    2018
    Headquarters
    Pasig City, Philippines
    Stage
    Growth
    Total raised
    US$187M
    From recorded rounds
    Licences
    1
    BSP

    Overview

    Tonik is a standalone digital bank in the Philippines, operating under a BSP digital-bank license secured in 2021. Founded in 2018 as a Singapore group and launched in the Philippines in March 2021, it offers savings, time deposits, Stashes and consumer loans, with PDIC-insured deposits. Its recorded financing rounds total US$187M, including the US$131M Series B led by Mizuho Bank in 2022 and a US$12M Pre-Series C raised by controlling shareholder Tonik Financial in November 2025, led by Diligent Capital Partners. Tonik reported reaching profitability in Q1 2026.

    Mission

    Tonik is a transformative digital bank on a mission to revolutionize the way money works in Southeast Asia.

    Products

    • Tonik Savings
    • Time Deposits
    • Personal Loans
    • Stashes

    Serves

    ConsumersMillennialsDigital natives

    Funding and ownership

    Total raised

    US$187M

    Sum of recorded funding rounds

    Stage

    Growth

    Parent organisation: Tonik Financial

    Investors and shareholders

    Mizuho BankPeak XV Partners (formerly Sequoia Capital India)Insignia Ventures PartnersPoint72 VenturesiGlobe PartnersDiligent Capital PartnersPlio LimitedAltara Ventures

    Figures are calculated from the funding rounds recorded for this company.

    People

    • Greg KrasnovFounder & Group CEO
    • Pawan BahugunaCo-Founder

    Licences and certifications

    Awards and recognition

    • 'Best New Digital Bank Philippines 2021' by World Economic Magazine
    • 'Most Innovative Digital Bank Philippines 2024' by Global Banking & Finance Awards
    • 'Best Customer Service for Digital Banks 2023' by PDI and Statista
    • 'Best Core Banking System Initiative' award at the 16th Annual Retail Banker International (RBI) Awards 2025
    • Regional winner – Asia and category winner – for 'Customer Experience' at the IBSi Digital Banking Awards 2025

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