UNO Asia CEO Manish Bhai
UNOAsia, the company behind UNO Digital Bank in the Philippines, has raised US$32.1 million in a pre-Series B investment round comprising equity and debt.
The investors include Gateway Partners, Creador Private Equity, and Nextinfinity Management.
This round brings UNOAsia’s total raise to approximately US$75 million.
The startup will use the fresh money to accelerate the digital bank’s presence in the Philippines. The deal will also help in its efforts to transform the digital financial space in the archipelago and drive financial inclusion.
Also Read: How digital banking is driving financial inclusion in SEA
Founded in 2020 by Manish Bhai, Puneet Gupta, and Kalidas Ghose, UNO Digital Bank is a full-spectrum credit-led digital bank licensed under the Digital Banking License framework promulgated by the Bangko Sentral ng Pilipinas (BSP) in the Philippines. Filipinos can use the app to save, borrow, transact, invest, and protect money.
CEO Manish Bhai claimed UNO Digital Bank has secured accounts with a million customers in just fifteen months since its commercial launch and amassed US$100 million in deposits, predominantly within transaction, savings, and time deposit accounts.
Singapore headquartered financial technology company UNOAsia is one of the primary incorporators of UNO Digital Bank. The company plans to expand its digital bank platform across key South and Southeast Asian markets.
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