Tonik, a Filipino Neobank Founded by a Ukrainian, Raises $12M
Filipino neobank Tonik, founded by former CEO of Ukrainian Platinum Bank Greg Krasnov, has raised $12 million in a Pre-Series C round, according to a press release from the company. The round was led by Ukrainian investment firm Diligent Capital Partners (DCP), with participation from Plio Limited, Altara Ventures, and Tonik’s management team.
«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.
Deal Details
- The funds will be used to scale capital-efficient lending, accelerate customer acquisition, expand cross-selling, and enhance automation.
- At the time of the fundraising, Tonik’s annual revenue exceeded $40 million, and its contribution margin turned positive at the end of 2024. The neobank expects to break even in cash flow during the first half of 2026.
- Over three years of scaling, Tonik’s loan portfolio has grown 15-fold, reaching $83 million. Its B2B2C distribution network includes nearly 400 employers and more than 500 retail partners, channels through which the neobank attracts end customers.
«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,» Krasnov commented.
- Diligent Capital Partners is a mid-market private investment firm focused on mobilizing public and private capital to strengthen the economies of Ukraine and the Black Sea region.
«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,» Pasco said.
Tonik’s robust unit economics and advanced technology stack position the neobank as a potential leader among digital banks in Southeast Asia over time.
- Other investors in previous rounds include Mizuho Bank, Insignia Ventures, Peak XV (formerly Sequoia India), and Point72 Ventures.
About Tonik
- Tonik is the first fully online digital neobank in the Philippines, operating under a full banking license from the Bangko Sentral ng Pilipinas (BSP).
- The neobank offers loans, deposits, and embedded finance through a mobile app in a latent market worth over $100 billion, where unsecured consumer lending remains one of the least developed sectors in Southeast Asia.
- Since its founding by a Ukrainian expatriate, Tonik has become a notable player in the fintech market. The company has developed AI scoring for risk management, trained on proprietary data collected over three years. Its cloud-based architecture enables real-time online underwriting and automated servicing, reducing costs and stabilizing risk.
- The bank currently provides over 25% risk-adjusted return on capital (RAROC), and its risk-adjusted gross margin has grown 4.5 times over the past twelve months.
Tonik, a Filipino Neobank Founded by a Ukrainian, Raises $12M
Filipino neobank Tonik, founded by former CEO of Ukrainian Platinum Bank Greg Krasnov, has raised $12 million in a Pre-Series C round, according to a press release from the company. The round was led by Ukrainian investment firm Diligent Capital Partners (DCP), with participation from Plio Limited, Altara Ventures, and Tonik’s management team.
«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.
Deal Details
- The funds will be used to scale capital-efficient lending, accelerate customer acquisition, expand cross-selling, and enhance automation.
- At the time of the fundraising, Tonik’s annual revenue exceeded $40 million, and its contribution margin turned positive at the end of 2024. The neobank expects to break even in cash flow during the first half of 2026.
- Over three years of scaling, Tonik’s loan portfolio has grown 15-fold, reaching $83 million. Its B2B2C distribution network includes nearly 400 employers and more than 500 retail partners, channels through which the neobank attracts end customers.
«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,» Krasnov commented.
- Diligent Capital Partners is a mid-market private investment firm focused on mobilizing public and private capital to strengthen the economies of Ukraine and the Black Sea region.
«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,» Pasco said.
Tonik’s robust unit economics and advanced technology stack position the neobank as a potential leader among digital banks in Southeast Asia over time.
- Other investors in previous rounds include Mizuho Bank, Insignia Ventures, Peak XV (formerly Sequoia India), and Point72 Ventures.
About Tonik
- Tonik is the first fully online digital neobank in the Philippines, operating under a full banking license from the Bangko Sentral ng Pilipinas (BSP).
- The neobank offers loans, deposits, and embedded finance through a mobile app in a latent market worth over $100 billion, where unsecured consumer lending remains one of the least developed sectors in Southeast Asia.
- Since its founding by a Ukrainian expatriate, Tonik has become a notable player in the fintech market. The company has developed AI scoring for risk management, trained on proprietary data collected over three years. Its cloud-based architecture enables real-time online underwriting and automated servicing, reducing costs and stabilizing risk.
- The bank currently provides over 25% risk-adjusted return on capital (RAROC), and its risk-adjusted gross margin has grown 4.5 times over the past twelve months.
