About TONIK
TONIK is a company based in Singapore (Singapore) founded in 2018 by Bahuguna Pawan.. TONIK has raised $187 million across 5 funding rounds from investors including Mizuho Financial Group, Prosus and Peak XV Partners. The company has 88 employees as of April 08, 2024. TONIK has completed 1 acquisition, including Tendopay. TONIK operates in a competitive market with competitors including Revolut, Allica Bank, DBS, Paytm Payments Bank and Discover, among others.
- Headquarter Singapore, Singapore
- Employees 88 as on 08 Apr, 2024
- Founders Bahuguna Pawan
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Sectors
Financial Services
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Email
***********
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Phone
*********
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Website
*********
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Social
*********
- Legal Name Tonik Financial India Private Limited
- Date of Incorporation 27 May, 2021
- Jurisdiction Chennai, Tamil Nadu, India
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Annual Revenue
$3.74 M (USD)170.57as on Mar 31, 2023
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Net Profit
$241.12 K (USD)119.59as on Mar 31, 2023
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EBITDA
$535.32 K (USD)218.76as on Mar 31, 2023
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Total Equity Funding
$187 M (USD)
in 5 rounds
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Latest Funding Round
$12 M (USD), Series B
Dec 04, 2025
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Investors
Mizuho Financial Group
& 15 more
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Employee Count
88
as on Apr 08, 2024
- Investments & Acquisitions
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Funding Insights of TONIK
TONIK has successfully raised a total of $187M across 5 strategic funding rounds. The most recent funding activity was a Series B round of $12 million completed in December 2025. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 5
- Last Round Series B — $12.0M
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First Round
First Round
(24 Feb 2020)
- Investors Count 16
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Dec, 2025 | Amount | Series B - TONIK | Valuation | Diligent Capital Partners |
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| Feb, 2022 | Amount | Series B - TONIK | Valuation | Mizuho Financial Group | |
| May, 2021 | Amount | Series A - TONIK | Valuation | IGlobe Partners |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in TONIK
TONIK has secured backing from 16 investors, including institutional, angel, and venture fund investors. Prominent investors backing the company include Mizuho Financial Group, Prosus and Peak XV Partners. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
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Tech companies are invested in by this venture capital firm.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by TONIK
TONIK has strategically engaged in corporate development activities, having acquired 1 company. Notable acquisitions include Tendopay. These strategic investments and acquisitions demonstrate the company's commitment to growth through portfolio expansion, market consolidation, technology integration, and strategic partnerships that enhance competitive positioning and drive long-term value creation.
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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App-based solution for point of sale financing
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2018 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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OVO is recognized as a smart digital payment application.
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2017 | ||||
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Bionic investment advisor platform
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 |
Financial Statements - TONIK
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Tonik Comparisons
Competitors of TONIK
TONIK operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Revolut, Allica Bank, DBS, Paytm Payments Bank and Discover, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Banking solutions are provided for retail customers and businesses.
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| domain | founded_year | HQ Location |
Internet-first banking services are offered to individuals and businesses.
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| domain | founded_year | HQ Location |
Diversified insurance brokerage services are provided to clients.
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| domain | founded_year | HQ Location |
Digital banking solutions are offered for individuals and businesses.
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| domain | founded_year | HQ Location |
Discover is recognized for providing credit cards and banking services.
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| Company Name | Domain | Founded year | HQ Location | Description |
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| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Tonik
Frequently Asked Questions about TONIK
When was TONIK founded?
TONIK was founded in 2018 and raised its 1st funding round 2 years after it was founded.
Where is TONIK located?
TONIK is headquartered in Singapore, Singapore.
Is TONIK a funded company?
TONIK is a funded company, having raised a total of $187M across 5 funding rounds to date. The company's 1st funding round was a Series A of $17M, raised on Feb 24, 2020.
How many employees does TONIK have?
As of Apr 08, 2024, the latest employee count at TONIK is 88.
What is the annual revenue of TONIK?
Annual revenue of TONIK is $3.74M as on Mar 31, 2023.
What does TONIK do?
TONIK was founded in 2018 and is headquartered in Singapore. Digital banking services are extended to individual customers in the fintech sector. Operations include money transfers, cash withdrawals, bill payments, online and offline purchases, loan access, and savings accounts. Transaction monitoring is facilitated via a dedicated dashboard. The mobile application is supported on both Android and iOS platforms.
Who are the top competitors of TONIK?
TONIK's top competitors include Revolut, Allica Bank and Paytm Payments Bank.
How many acquisitions has TONIK made?
TONIK has made 1 acquisition, including Tendopay.
Who are TONIK's investors?
TONIK has 16 investors. Key investors include Mizuho Financial Group, Prosus, Peak XV Partners, Rahul Mehta, and Sixteenth Street Capital.
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