Tonik Financial, controlling shareholder of Tonik Digital Bank, the Philippines’ first licensed digital-only bank, has raised $12 million in Pre-Series C financing led by Diligent Capital Partners.
Tonik said in a statement on Thursday that the round also saw 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 times to $83 million, while annualized revenue has reached over US$40 million.
The bank continues to deliver 25 percent+ risk-adjusted return on capital (RAROC), and its risk-adjusted gross margin expanded 4.5 times over the past twelve months.
Its contribution margin also turned positive in late 2024, supported by Tonik’s artificial intelligence (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.
It is noted that 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 business to business to consumer (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 $100 billion+ 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. 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 two to three years,” said Greg Krasnov, Founder and Chief Executive Officer of Tonik.
Dan Pasko, Partner at Diligent Capital Partners, said while the fund’s primary focus is on Ukraine and the Black Sea basin, it also backs mission-driven Ukrainian founders building globally.
“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,” he added.