Tonik Raises $12 Mn Pre-Series C
- ByStartupStory | December 4, 2025
Philippines Digital Bank Bolsters Capital For Profitable Scaling And AI-Driven Lending
Manila-based Tonik Financial, controlling shareholder of the Philippines’ first licensed digital-only bank Tonik Digital Bank, has raised $12 million in a Pre-Series C funding round led by Diligent Capital Partners, with participation from Plio Limited, existing shareholder Altara Capital, and Tonik management. The capital strengthens regulatory compliance with Bangko Sentral ng Pilipinas requirements while fueling technology investments to accelerate customer acquisition, cross-selling, and automation.
Entering the round with three years of profitability-driven scale, Tonik grew its loan portfolio 15x to $83 million, achieving annualized revenue exceeding $40 million. The bank maintains 25%+ risk-adjusted return on capital (RAROC), with risk-adjusted gross margin expanding 4.5x in the past year. Contribution margins turned positive late 2024, supported by AI-powered credit scoring, disciplined collections, and origination/servicing automation—positioning Tonik for cash-flow breakeven by mid-2026.
AI Risk Engine Powers Defensible Moat
Tonik’s technology-distribution flywheel combines regulated low-cost deposits with a proprietary AI risk engine trained on three years of data, alongside a B2B2C network spanning 400 employers and 500 retail partners. The cloud-native stack enables real-time underwriting, behavioral scoring, and automated servicing, lowering cost-to-serve while stabilizing risk costs.
Founder and CEO Greg Krasnov emphasized disciplined scaling: “This round protects capital ratios while growing a profitable, credit-led model. Tonik proves financial inclusion delivers world-class returns, ready for 10x growth in 2-3 years.”
Diligent Partner Dan Pasko noted: “While focused on Ukraine/Black Sea, we back Ukrainian founders globally. Our decade-long support for Greg and high-performing Ukrainian leaders driving Tonik reinforces execution confidence. Unit economics and tech position it among Southeast Asia’s most valuable digital banks.”
Southeast Asia’s Unsecured Lending Opportunity
Tonik targets a $100B+ latent market where unsecured consumer lending penetration lags regional peers. Prior $131M Series B (2022, led by Mizuho) fueled initial scale; losses narrowed 25% to $21.9M in 2024 on 23% revenue growth to $24.6M.
The raise signals Southeast Asia’s digital banking maturation—from experimentation to regulated profitability. Tonik’s trajectory—15x loan growth, positive margins, breakeven path—contrasts peers’ cash-burn amid BSP’s tightening.
With BSP’s full banking license and global backers (Mizuho, Peak XV, Point72), Tonik exemplifies capital-efficient inclusion, blending AI precision with distribution scale for sustainable returns in emerging markets.
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