TONIK
Tonik is a Philippines-licensed digital neobank offering mobile-first savings accounts, consumer loans, BNPL, and payments to unbanked and underbanked Filipinos, with lending representing 99% of revenue and over 1 million cumulative loans disbursed since 2021.
- Company typePrivate
- Founded2021
- HeadquartersSingapore, Singapore
- Headcount501–1,000
- GTM typeB2C
- OfferingServices
What TONIK does
Tonik Digital Bank, Inc. is a Philippines-licensed, mobile-first neobank operating under the first standalone digital banking license issued by Bangko Sentral ng Pilipinas (BSP License No. 001). Incorporated in 2018 and launched commercially in March 2021, the company is headquartered in Singapore (Tonik Financial Pte. Ltd.) with operations in Pasig City, Philippines and an engineering center in Chennai, India. Tonik serves unbanked and underbanked Filipino consumers through an integrated suite of digital savings products (Tonik Account with up to 6% p.a. interest, Time Deposits at 5.5%, Solo Stash, and Group Stash), a Mastercard debit card, zero-fee QRPh payments across 675,000+ merchants, and a lending portfolio spanning Credit Builder Loans, Cash Loans, Upsell Loans, and BNPL Shop Installment Loans distributed through a network of nearly 400 employer partners and 500+ retail outlets.
The technology stack is a digital-only, mobile-first platform built on Finastra's lending infrastructure, integrated with Credolab and PowerCred for alternative-data credit scoring, Nice Actimize for AML and fraud, Genesys Cloud CX for service operations, BPC for payment processing, and Mastercard for card issuance. A full-stack AI credit decisioning engine, completed in October 2025, underwrites all loan decisions using credit bureau, telco, behavioral, and socioeconomic data, with biometric (facial and voice) identity verification and automated loan lifecycle management. The Tendo by Tonik sub-brand (Templetech Finance Corp.) extends the platform into B2B2C payroll-linked lending across nearly 400 employer partners including Concentrix, and a wholly owned subsidiary TendoPay (acquired December 2022) adds BNPL and personal finance capabilities.
Tonik's business model is credit-led: approximately 99% of revenue is generated from interest and fees on its $110M loan portfolio, supplemented by transaction fees and net interest margin on PDIC-insured deposits. The company achieved sustained profitability in Q1 2026, the first standalone digital bank in the Philippines to do so, generating an annualized revenue run-rate of approximately $60M while growing the loan portfolio 2.3x year-on-year and crossing 1M cumulative loans disbursed. Total funding raised to date is approximately $143M, led by Mizuho Bank (Series B lead and ~10% holder), and the company is pursuing a potential public listing on the Tokyo Stock Exchange through the Japan Exchange Group's TSE Asia Startup Hub program.
TONIK firmographics
Firmographics- Name
- TONIK
- Legal name
- Tonik Digital Bank, Inc.
- Website
- https://tonikbank.com
- Company type
- Private
- Founded year
- 2021
- Operating status
- Operating
- Headcount range
- 501–1,000 employees
- Short description
- Tonik is a Philippines-licensed digital neobank offering mobile-first savings accounts, consumer loans, BNPL, and payments to unbanked and underbanked Filipinos, with lending representing 99% of revenue and over 1 million cumulative loans disbursed since 2021.
- Ownership category
- akta.pro rank
TONIK industry classification
Industry- Product category
- Digital Banking
- NAICS
- Depository Credit Intermediation (5221), Savings Institutions and Other Depository Credit Intermediation (52218)
- SIC
- Commercial Banks, Nec (6029), Functions Related To Depository Banking, Nec (6099)
- akta.pro primary industry
- Digital Banking & Neobank Platforms (BPAMAFAD)
- akta.pro secondary industries
- Crypto/Web3 Neobanks (FSABAFAG), BNPL Platform Infrastructure (APIs, Orchestration, Merchant Tools) (FSAKACAE), Buy Now, Pay Later (BNPL) (CRAFALAD)
Keywords
Where TONIK is headquartered
LocationHeadquarters
- HQ city
- Singapore
- HQ country
- Singapore
- HQ region
- Asia
Offices3 records
Markets served
TONIK business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Technology or R&D, Personnel, Operations, Marketing or Sales, Infrastructure
Revenue model
- Lending/Interest Income: Primary revenue stream from unsecured consumer loans including Credit Builder Loans, Cash Loans, Shop Installment Loans (BNPL), and Upsell Loans. 99% of revenue derived from lending activities. Loan portfolio grew to $110 million with 2.3x year-on-year growth.
- Transaction/Fee Income: Income from transaction fees including ATM withdrawals, fund transfers via PESONet and InstaPay, and other banking service charges.
- Deposit-Taking: Interest-earning deposits including Tonik Account (savings), Time Deposits, Solo Stash, and Group Stash. Deposits insured by PDIC up to ₱1 Million per depositor.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Monthly | Tonik Account - Digital savings with high interest rate |
| Subscription | Multi-year contract | Time Deposit - Fixed-term savings |
| Subscription | Monthly | Solo Stash - High-yield savings vault |
| Unit Pricing | Monthly | Cash Loan - Unsecured multi-purpose loan |
| Unit Pricing | Monthly | Upsell Loan - Enhanced credit product |
| Transaction based/ take rate | Monthly | Shop Installment Loan (BNPL) - Point-of-sale financing |
Go-to-market motion3 records
Distribution channels4 records
Marketing channels6 records
TONIK product offering
Product offeringCore offering
Tonik is a digital-only neobank that offers retail deposit products (Tonik Account savings, Solo/Group Stash, Time Deposit), Mastercard debit cards, and QRPh payments via a mobile app. Its primary revenue driver (~99%) is unsecured consumer lending, encompassing Credit Builder Loans, Cash Loans, Shop Installment Loans (BNPL), Upsell Loans, and Tendo payroll-linked loans distributed through an employer B2B2C channel.
Product overview
Tonik Digital Bank operates the Philippines' first standalone digital banking license (BSP License No. 001) as a mobile-first neobank offering an integrated suite of deposit, lending, payments, and insurance products through its Tonik App. The core platform centers on the Tonik Account (savings) as the anchor product, supplemented by savings vehicles (Solo Stash, Group Stash, Time Deposit), a Mastercard debit card, and QRPh payment capabilities. Lending is the primary revenue driver (99% of revenue), encompassing Credit Builder Loans, Shop Installment Loans (SIL/BPNL), Cash Loans, Upsell Loans, and Tendo payroll loans distributed via an employer B2B2C channel. The Tendo platform and its Tendo Stash product extend Tonik's reach into payroll-enabled financial wellness at partner employers. A full-stack AI credit decisioning engine powers all lending decisions using both traditional and alternative data sources.
Differentiator
Problem solved
Functional benefit
Brands
- Tendo by Tonik: Payroll-enabled financial services platform offering payroll loans, buy now pay later, and personal finance tools. Operated by Templetech Finance Corp., Tendo provides employer-channel lending and workplace financial wellness solutions.
- TendoPay
Products and services
- Tonik Digital Banking App Mobile-first digital banking application that lets individual Filipino customers open savings accounts, apply for loans, make QRPh payments, and manage finances entirely from their phone.
- Tonik Account (Savings) Primary savings account offering up to 6% p.a. interest, holding up to 5 Stashes and 5 Time Deposit accounts per user, with free Mastercard ATM withdrawals and PDIC insurance up to PHP 1M.
- Solo Stash Individual savings vault offering 4% annual interest, allowing customers to organize and grow savings with higher returns than the regular savings account.
- Group Stash Group savings vault allowing multiple Tonik customers to save collectively toward shared financial goals.
- Time Deposit Fixed-term deposit product offering up to 5.5% annual interest rate for funds locked over a specified period.
- Tonik Debit Card (Mastercard) Mastercard debit card for ATM cash withdrawals and point-of-sale transactions, with 3D Secure (SecureCode) fraud protection, card lock controls, and online transaction management.
- Credit Builder Loan Unsecured personal loan of up to PHP 50,000 designed to help customers establish or improve creditworthiness.
- Shop Installment Loan (BNPL) Point-of-sale BNPL installment loan for purchasing appliances, furniture, and consumer goods at partner retail stores, disbursed to the customer or directly to the merchant.
- Cash Loan Unsecured multi-purpose cash loan providing quick and affordable credit to individuals, with loan amounts from PHP 5,000 to PHP 50,000 based on customer eligibility.
- Upsell Loan Unsecured multi-purpose loan for existing Tonik customers with prior loan history, offering higher loan amounts from PHP 5,000 up to PHP 250,000.
- Tendo by Tonik (Payroll Loans) Employer-channel B2B2C lending platform offering payroll-linked loans to employees of partner companies (nearly 400 employers including Concentrix), disbursed and repaid via salary deductions.
- QRPh Payments National QR payment interoperability service enabling zero-fee QR payments across 675,000+ merchants using the Philippine QR standard.
- Insurance Products (PPI / Mortgage Redemption) Payment Protection Insurance (PPI) bundled with loans providing life and disability coverage, Mortgage Redemption Insurance for secured loans, and Payment Holiday (PayHinga) feature allowing deferral of installments.
Quantifiable outcome
- First standalone digital bank in Philippines to achieve profitability (Q1 2026)
- +4 more outcomes
Companies that use TONIK
Customer profileNamed customers2 records
Segments3 records
Ideal customer profiles3 records
TONIK technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration10 records
AI capability8 records
Feature4 records
TONIK partnerships and signals
Strategic signalPartnerships
Seven partnerships are on record, tiered flagship and core.
- Tendo Payment Solutions Pte. Ltd. (TendoPay)flagshipTonik announced acquisition of TendoPay's Philippine operations to strengthen digital credit position and expand payroll-enabled financial services. Integration adds BNPL and personal finance tools to Tonik's services. Subject to regulatory approval.
- Templetech Finance Corp. (Tendo)flagshipAffiliate company operating Tendo Platform for payroll loans. Tonik's payroll loan product issued via Tendo platform with salary deductions through employer partnerships. B2B2C distribution reaching nearly 400 employers.
- ConcentrixcorePhilippines' largest private employer partnered with Tendo by Tonik to offer workplace financial wellness benefits including payroll-linked loans to Concentrix employees.
- Purple Hub Inc. (PHI)corePartner for Shop Installment Loans (BNPL). PHI and its Promoters promote and accept SIL applications at various retail stores. Verifies government IDs during application without retaining data.
- Robinsons AppliancescoreMajor retail chain partnership for accessible financing through Shop Installment Loans (BNPL) at Robinsons Appliances stores nationwide.
- FinastracoreGlobal financial technology company providing digital lending platform technology. Tonik recognized at TAB Global Awards 2026 for digital lending in partnership with Finastra.
- MastercardcoreCard network providing Mastercard SecureCode (3D Secure) for fraud prevention in online payments, and debit card issuance through Tonik's digital bank.
Scale indicators9 records
Recent moves7 records
Expansion highlights6 records
TONIK competitors and assessment
Company assessmentDirect peers
- GCash (Globe Fintech Innovations): GCash is the Philippines' dominant e-wallet and consumer finance super-app, offering savings, lending (GCredit, GLoan), payments, and cards. It is the highest-scale digital financial services competitor in Tonik's home market.
- Maya (formerly PayMaya): Maya is the Philippines' largest digital bank by deposits, offering a similar integrated suite of deposits, payments, lending, and cards via a mobile app. Operates under a separate BSP digital banking license and is the most direct head-to-head competitor to Tonik.
- UnionDigital Bank: UnionDigital Bank is a Philippine standalone digital bank launched by UnionBank, offering deposits, loans, and business banking via mobile app. Competes directly with Tonik under the same BSP digital banking license framework.
Emerging players
- Overseas Filipino Bank (OFBank): OFBank is a Philippine digital-only bank affiliated with the Philippine Postal Savings Bank, focused on overseas Filipino workers. Competes with Tonik for the same unbanked/underbanked deposit and lending segments.
- GoTyme Bank: GoTyme is a Philippine digital bank joint venture combining a banking license with an in-person kiosk model, offering deposits, cards, and consumer lending. Part of the same competitive set of BSP-licensed digital banks.
Broad incumbents
- WeBank: WeBank is China's largest digital-only bank, a Tencent-affiliated incumbent with AI-driven credit decisioning. Comparable in business model (mobile-first, AI-led lending to underserved segments) though operating at materially larger scale.
- Kakao Bank: Kakao Bank is Korea's largest internet-only bank and a publicly listed regional benchmark for digital banking at scale. Useful comparable for valuation and product mix benchmarking for Tonik's eventual IPO trajectory.
Regional players
- Atome: Atome is a leading SEA BNPL provider operating in the Philippines, Singapore, and other markets. Comparable to Tonik's Shop Installment Loan (BNPL) merchant-distributed installment product at retail partners.
- Akulaku: Akulaku is a Southeast Asia BNPL and digital lending platform with strong presence in Indonesia and the Philippines. Comparable to Tonik's Shop Installment Loan (BNPL) product line and alternative-data underwriting approach.
- Jenius (Bank SMBC Indonesia): Jenius is an Indonesian digital banking proposition from Bank SMBC offering mobile-first savings, payments, and lending. Closely comparable regional peer for benchmarking Southeast Asian neobank unit economics.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat6 records
Key risks6 records
Key highlights7 records
Customer concentration
TONIK social profiles
Digital presenceTONIK compliance and trust
Trust signalCompliance3 records
TONIK financial estimates
Financial estimateRevenue estimate
Valuation estimate
TONIK leadership team
Management profileNumber of profiles
Profiles7 records
TONIK subsidiaries and ownership
Company hierarchySubsidiaries3 records
TONIK funding detail
Funding detailFunding overview
Funding rounds7 records
Investors19 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
TONIK M&A and investment
M&A and investmentM&A1 record
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about TONIK
What does TONIK do?
Tonik is a digital-only neobank that offers retail deposit products (Tonik Account savings, Solo/Group Stash, Time Deposit), Mastercard debit cards, and QRPh payments via a mobile app. Its primary revenue driver (~99%) is unsecured consumer lending, encompassing Credit Builder Loans, Cash Loans, Shop Installment Loans (BNPL), Upsell Loans, and Tendo payroll-linked loans distributed through an employer B2B2C channel.
Is TONIK a public or private company?
TONIK is a private company. It is classified as venture growth investor backed and is currently operating.
When was TONIK founded?
TONIK was founded in 2021. It employs 501 to 1,000 people.
Where is TONIK based?
TONIK is headquartered in Singapore, Singapore, in the Asia region.
How does TONIK make money?
Three revenue lines are on record. Lending/Interest Income is the primary driver. The others are transaction/Fee Income and deposit-Taking.
Who are TONIK's main competitors?
Direct peers on record are GCash (Globe Fintech Innovations), Maya (formerly PayMaya) and UnionDigital Bank. Emerging players are Overseas Filipino Bank (OFBank) and GoTyme Bank. Broad incumbents are WeBank and Kakao Bank. Regional players are Atome, Akulaku and Jenius (Bank SMBC Indonesia).
Does TONIK have an API?
No public API is recorded for TONIK.
What industry is TONIK in?
TONIK's product category is Digital Banking. Its primary akta.pro industry code is BPAMAFAD, Digital Banking & Neobank Platforms, with a secondary code of FSABAFAG, Crypto/Web3 Neobanks. Its NAICS code is 5221 and its SIC code is 6029.