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Tonik becomes PH's first neobank to secure digital bank license yahoo.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from yahoo.com Daily Mail and Mail on Sunday newspapers.
Tonik raises USD 17 mln in Pres-Series B funding thepaypers.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thepaypers.com Daily Mail and Mail on Sunday newspapers.
Payments , Banking , Online Banking 09:45 am Tonik, the first neobank in the Philippines, announced today that it raised US$17M in Pre-Series B funding. The round comes on the heels of Tonik’s highly successful public launch in March 2021, which saw it secure over 1 billion pesos (US$20M) in retail deposits in under 1 month - a historical record for any new bank launching in the Philippines. Led by Singapore’s 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. The new funding solidifies Tonik’s position as one of the best funded fintechs in the Philippines, with US$44M raised to-date. ....
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Published April 27, 2021, 1:09 PM The Philippines’ first neobank Tonik is ramping up the convenient banking features on its game-changing app through tying up with PESONet to enable safe and secure electronic fund transfers to Tonik account from other banks. The announcement comes on the heels of Tonik’s highly successful public launch in March 2021, which saw it secure over 1 billion pesos (US$20M) in retail deposits in under 1 month – a historical record for any new bank launching in the Philippines. Tonik users are now able to transfer funds from a PESONet participating bank to their accounts. This service is initially available via RCBC, Landbank, PSBank and CIMB, with other PESONet member banks expected to add the service in the coming months. ....