Singapore-based fintech UNOAsia has secured US$11 million in a pre-series A round ahead of the commercial launch of its digital bank in the Philippines.
Creador led the funding round, bringing UNOAsia’s total raised to US$44.5 million and making the private equity firm its biggest investor.
The funding will support UNOAsia’s growth and enable the fintech to achieve the commercial launch of UNO Digital Bank, which is now a live operating bank under closed-loop ‘beta’.
UNO Digital Bank provides accounts boasting immediately available virtual cards, competitive interest rates and access to credit. It is launching in the Philippines but plans are in place to expand throughout Asia.
Creador cited the Philippines’ underbanked population, which it said stands about 45 million people, as a primary reason for its investments in UNOAsia so far.