Tonik Raises US$12M Pre-Series C to Scale Capital-Efficient Lending in the Philippines
With efficiency gains compounding and burn continuing to decline, Tonik’s current trajectory points to cash-flow breakeven around the first half of 2026.
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Tonik Financial, controlling shareholder of Tonik Digital Bank, the Philippines’ first licensed digital-only bank, has raised US$12 million in Pre-Series C financing led by Diligent Capital Partners, with participation from Plio Limited, existing shareholder Altara Capital, and Tonik management. The funding strengthens the regulatory capital position of Tonik Digital Bank under Bangko Sentral ng Pilipinas requirements and supports continued investment in Tonik’s technology platform to accelerate customer acquisition, cross-sell, and automation.
Tonik enters the round with three years of profitability-driven scale, having grown its loan portfolio 15× to US$83 million, while annualized revenue has reached over US$40 million. The bank continues to deliver 25%+ risk-adjusted return on capital (RAROC), and its risk-adjusted gross margin expanded 4.5× over the past twelve months. Contribution margin turned positive in late 2024, supported by Tonik’s AI-powered credit scoring, disciplined collections, and automation across origination and servicing. With efficiency gains compounding and burn continuing to decline, Tonik’s current trajectory points to cash-flow breakeven around the first half of 2026.
Tonik’s technology and distribution flywheel has become one of the most defensible moats in Southeast Asian consumer finance. The bank integrates regulated, low-cost deposit funding with a deeply seasoned AI risk engine trained on more than three years of proprietary data, and a B2B2C distribution network spanning nearly 400 employers and over 500 retail partners. Its cloud-native stack powers real-time underwriting, behavioral scoring, and automated servicing — lowering cost-to-serve and stabilizing cost of risk — enabling Tonik to scale responsible credit access in a $100B+ latent market where unsecured consumer lending remains the lowest-penetrated in Southeast Asia.
“This round is about scaling with discipline — protecting our capital ratios while growing a profitable, credit-led model,” said Greg Krasnov, Founder & CEO of Tonik. “Tonik was built to prove that financial inclusion in emerging markets can be delivered with truly world-class returns. 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.”
“While our fund’s primary focus is on Ukraine and the Black Sea basin, we also back mission-driven Ukrainian founders building globally,” said Dan Pasko, Partner at Diligent Capital Partners. “Our team supported Greg more than a decade ago in one of his prior builds, and many other high-performing Ukrainian leaders are now helping drive Tonik. That continuity gives us deep confidence in execution. Tonik’s unit-economics rigor and technology stack position it to become one of Southeast Asia’s most valuable digital banks over time.”
Tonik Financial, controlling shareholder of Tonik Digital Bank, the Philippines’ first licensed digital-only bank, has raised US$12 million in Pre-Series C financing led by Diligent Capital Partners, with participation from Plio Limited, existing shareholder Altara Capital, and Tonik management. The funding strengthens the regulatory capital position of Tonik Digital Bank under Bangko Sentral ng Pilipinas requirements and supports continued investment in Tonik’s technology platform to accelerate customer acquisition, cross-sell, and automation.
Tonik enters the round with three years of profitability-driven scale, having grown its loan portfolio 15× to US$83 million, while annualized revenue has reached over US$40 million. The bank continues to deliver 25%+ risk-adjusted return on capital (RAROC), and its risk-adjusted gross margin expanded 4.5× over the past twelve months. Contribution margin turned positive in late 2024, supported by Tonik’s AI-powered credit scoring, disciplined collections, and automation across origination and servicing. With efficiency gains compounding and burn continuing to decline, Tonik’s current trajectory points to cash-flow breakeven around the first half of 2026.
Tonik’s technology and distribution flywheel has become one of the most defensible moats in Southeast Asian consumer finance. The bank integrates regulated, low-cost deposit funding with a deeply seasoned AI risk engine trained on more than three years of proprietary data, and a B2B2C distribution network spanning nearly 400 employers and over 500 retail partners. Its cloud-native stack powers real-time underwriting, behavioral scoring, and automated servicing — lowering cost-to-serve and stabilizing cost of risk — enabling Tonik to scale responsible credit access in a $100B+ latent market where unsecured consumer lending remains the lowest-penetrated in Southeast Asia.
