UNO Digital Bank Secures $32.1 Million in Funding to Fuel Expansion
Summary
UNOAsia Pte Ltd has secured US$32.1 million in a recent pre-Series B funding round, with the mix of equity and debt funding aimed at reinforcing the operations of UNO Digital Bank in the region, with a particular focus on technology enhancements.Investment from Gateway Partners, noted by co-founder Anand Kumar, is directed towards transforming the digital financial landscape and advancing financial inclusion in the Philippines. This investment aligns with the firms strategy of supporting growth in emerging markets through innovative solutions.Omar Mahmoud, Managing Director of Creador Private Equity, highlighted the investment in UNO Digital Bank as a step towards offering the underbanked population access to formal financial services through a digital platform.said CEO Manish Bhai. This growth underscores the banks rapid expansion and acceptance in the market.UNO Digital Bank Chairman Kalidas Ghose pointed to the banks diverse product offerings as a reflection of its commitment to serving varied customer needs.The bank has also introduced personal loan products aimed at closing the formal credit gap for different segments, including salaried individuals, professionals, and MSMEs.Nextinfinity Management expressed its support for UNO Digital Banks rapid growth and its goal of becoming a leading digital banking and financial platform in the Philippines, alongside Creador and Gateway Partners.The funding and support from various partners reflect a collective confidence in the UNO Digital Bank approach to futureproofing banking services in the Philippines through digital innovation.