Netbank has closed a Series B funding round led by Altara Ventures to expand its BaaS platform for customers and users in the Philippines.
Existing investors BeeNext, Kaya Founders, January Capital, Oak Drive Ventures, and Boleh Ventures all participated in the round with follow-on contributions.
According to the official press release, proceeds from the Series B will be directed towards three areas: broadening Netbank's payment capabilities, including real-time disbursements, collections, and cross-border rails, scaling embedded lending products for partner platforms, and deepening account and card infrastructure. The company also intends to invest in automation, risk infrastructure, and engineering talent.
Netbank describes its model as 'Partnership Based Banking', providing financial services infrastructure that allows third-party platforms to offer banking products to end users without managing separate provider relationships. In addition, the company's full participant base of existing investors re-joining the round signals continued confidence in both execution and market positioning.
Southeast Asia infrastructure gap
The funding reflects broader dynamics in Southeast Asia's digital financial services landscape, where regulated infrastructure capable of supporting fast-moving digital platforms remains scarce. A company official from Altara Ventures noted that a recurring challenge across the region is the absence of dependable financial infrastructure, and cited Netbank's modular and compliance-oriented approach as addressing operational pain points for its partners.
Furthermore, for fintechs operating in the Philippines, assembling compliant financial infrastructure has historically required integrating multiple providers, adding cost and complexity to product development. Netbank's model consolidates those components under a single licensed entity, reducing the compliance and operational overhead involved in building financial products.
The Philippines is among Southeast Asia's higher-growth digital economies, making the availability of scalable, regulated infrastructure increasingly relevant for platforms seeking to offer payments, lending, or account services to their customers.
No financial terms for the Series B were disclosed.
