A significant infusion of $12 million has been secured by Tonik Financial, the driving force behind Tonik Digital Bank, fueling its ambitious expansion plans and bolstering its financial foundation.
The Pre-Series C funding round was spearheaded by Diligent Capital Partners, with crucial participation from Plio Limited, existing investor Altara Capital, and the bank’s own leadership team. This capital injection is strategically designed to meet and exceed the stringent regulatory requirements set forth by the Bangko Sentral ng Pilipinas.
The funds will be directly channeled into strengthening Tonik Digital Bank’s technological infrastructure, accelerating customer acquisition, and streamlining operations through advanced automation. This investment signifies a commitment to rapid growth and enhanced service delivery.
Tonik Digital Bank, one of just six online banks authorized to operate in the Philippines, launched its services in 2021, quickly establishing itself as a disruptive force in the financial landscape. It currently operates under a structure where Tonik Financial holds a 60% stake, with Oak Drive Ventures and Camerton, Inc. each owning 20%.
According to Greg Krasnov, founder and CEO of Tonik, this funding round is about “scaling with discipline,” carefully balancing growth with the preservation of strong capital ratios. He envisions a future where financial inclusion in emerging markets delivers exceptional returns.
Krasnov believes the bank’s current momentum – demonstrated by improving risk performance, technological advancements, and expanding reach – proves the viability of its model, positioning it for exponential growth in the coming years. He anticipates a tenfold increase in value within the next two to three years.
Diligent Capital Partners, while primarily focused on Ukraine and the Black Sea region, recognized the potential in Tonik’s mission and the strength of its Ukrainian-led team. Partner Dan Pasko highlighted a long-standing relationship with Krasnov and confidence in the execution capabilities of the team.
Pasko emphasized Tonik’s rigorous financial discipline and cutting-edge technology as key factors in its potential to become a leading digital bank in Southeast Asia. The firm sees a clear path to substantial long-term value creation.
As of June 2025, Tonik Digital Bank reported total assets of P7.905 billion against liabilities of P6.785 billion, resulting in stockholders’ equity of P1.12 billion. While capital adequacy ratios have seen a slight decrease from year-end 2024, they remain firmly within regulatory guidelines.
The bank reported a net loss of P1.126 billion in 2024, an increase from the P744.92-million loss in 2023. However, this is attributed to strategic investments in platform development, talent acquisition, and customer outreach, rather than underlying operational issues.
Key performance indicators, including loan yields, contribution margins, and delinquency rates, are all showing consistent quarter-over-quarter improvement. This suggests that the bank’s investments are yielding positive results and laying the groundwork for future profitability.
Loan growth surged by 110% in 2024, reaching P2.5 billion, while deposits climbed to P5.8 billion. The bank also surpassed one million registered users, with a 42% increase in active accounts year-over-year, demonstrating strong customer engagement.
Tonik Digital Bank has set ambitious goals for the current year, aiming to expand its loan portfolio beyond P5 billion and achieve breakeven contribution margins across its core lending products by actively managing and reducing credit costs.
The bank is heavily investing in artificial intelligence-driven underwriting, automated customer lifecycle management, and responsible credit expansion. These initiatives are all geared towards achieving sustainable profitability by 2026.
With a clear path to profitability, a robust regulatory framework, and a growing, loyal customer base, Tonik Digital Bank is firmly positioned to deliver innovative and inclusive financial services to the Philippines.
