Tonik has crossed 1 million cumulative loans disbursed since inception, cementing its status as the Philippines’ credit-led digital bank and propelling a new era of “credit inclusion.”
While traditional banking institutions continue to emphasize corporate credit, Tonik zeroes in on a “$40 billion latent unsecure consumer credit market—tackling one of Southeast Asia’s most overlooked lending opportunities with a credit-first strategy powered by AI-driven underwriting and alternative data.”
In two years, Tonik has expanded its loan portfolio “by 7x, while at the same time slashing unit operational service costs by 5x.”
This growth and cost focus helped the bank hit contribution margin breakeven in Q4 2024, “paving the way for cash flow breakeven within the next 9–12 months.”
Tonik also leads in average revenue per user (ARPU) and average margin per user (AMPU) across digital banking—showcasing “a more robust monetization model than its payments-led peers.”
Greg Krasnov, Founder & CEO of Tonik said:
“Reaching one million loans marks a major stride in our mission to deliver fast, accessible mass-market consumer credit across the Philippines. We’re scaling rapidly while turning an operational profit—a rare combo in fintech—and we see much more upside ahead.”
Consumer lending in the Philippines comprises just “5% of GDP, far below the 21% regional average.”
Armed with a digital-only bank license, Tonik secures “low-cost” deposit funding, reportedly “outperforming fintech lenders forced to rely on more expensive wholesale capital.”
With a diverse product lineup—payroll loans, shop installment financing, AI-powered digital cash loans, and upsell loans—Tonik is poised “for accelerating its impact in 2025 due to aggressive deployment of AI across the organization.”
By marrying data-powered innovation with genuine consumer need, Tonik is ushering in a new era of “technology-driven lending—one that combines high-volume growth with sustainable profitability, all in service of bringing much-needed credit to millions of Filipinos.”
As noted in the update, Tonik is the digital-only neobank in the Philippines, “providing loan, deposit, and payment products to consumers on a highly secure digital banking platform.”
The neobank operates based on the first digital bank license issued by the Bangko Sentral ng Pilipinas (BSP).
Tonik is led by a team of retail finance veterans who have “built and scaled multiple retail banks and fintechs across global emerging markets.”
It is backed by top international investors, “including Sequoia India, Point72 Ventures, and Mizuho Bank.”
Tonik’s tech stack is integrated in partnership with banktech vendors including the following entities: Mastercard, Finastra, Amazon Web Services, Google, Genesys, and Daon.
Tonik reportedly operates out of various hubs that are based in Singapore (HQ), Manila, and Chennai.