Netbank, the Philippine Banking-as-a-Service platform that lets fintech companies offer bank accounts, payments, and loans without securing their own banking license, has closed a fresh Series B funding round to expand its infrastructure and grow its fintech partner base.
Netbank operates on a fully white-labelled basis, providing complete banking services and infrastructure to fintech and financial services companies in the Philippines. In practical terms, it allows digital lenders, payment platforms, neobanks, and non-bank networks like pawnshops and microfinance institutions to offer regulated financial products to their customers without building their own bank from scratch.
Regulated by the Bangko Sentral ng Pilipinas (BSP), Netbank gives client companies direct connections to multiple payment rails and networks, and offers both standard and custom financial solutions. Past partnerships include Akulaku Philippines for loan products and Sprout Solutions for salary advance services.
The Series B follows Netbank’s Series A round, which drew contributions from BEENEXT, January Capital, Oak Drive Ventures, Kaya Founders, and Boleh Capital, with Singapore-based BEENEXT leading. The amounts for both rounds have not been publicly disclosed.
At the time of the Series A, CEO and Co-Founder David dela Paz said the company’s goal was to continue building an ecosystem where fintech companies can thrive by offering them the banking infrastructure they need to innovate, grow, and serve the unbanked.
Before the Series B, Netbank had already been expanding its product lineup. In December 2025, the company partnered with Thredd to launch a Cards-as-a-Service offering, enabling its fintech and EMI partners across the Philippines to quickly issue virtual and physical cards with advanced spend controls, real-time card creation APIs, and a robust card management system.
On the growth side, Netbank reported turning profitable and recorded asset growth of 1,600% from early 2022, reaching over $18 million in assets, with partnerships that include Wise and Mastercard.
Recent central bank and third-party data show that the Philippines is experiencing a compound annual growth rate of 13.8% in digital payments through 2033, as the country accelerates its transition toward a cashless economy. Netbank’s latest funding round is Series B, with investors including BEENEXT, Oak Drive Ventures, Kaya Founders, Boleh Ventures, and January Capital.
Netbank has previously indicated plans to expand its platform beyond the Philippines, though no specific timeline has been announced.
