Rubicon Law was involved in the closing of the US$21 million Series A equity financing round for Tonik Financial Pte. Ltd.
Rubicon Law is pleased to announce that we have acted for Tonik Financial Pte. Ltd. (“Tonik”), the first digital-only bank in Southeast Asia, in its US$21 million Series A equity financing round completed in June 2020, led by blue-chip venture capital investors, Sequoia Capital India and Point72 Ventures. Tonik will be launching its digital bank in the Philippines, where it has been granted a bank licence by the Philippines’ banking regulator, making it the first digital-only neobank in Southeast Asia and one of the very few globally to be operating on the basis of its own bank licence.
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