Philippines BaaS Provider Netbank Raises Series B Led by Altara Ventures

Netbank, a Banking-as-a-Service provider based in the Philippines, closed its Series B funding round this week. Altara Ventures led the round, with full participation from existing investors BeeNext, Kaya Founders, January Capital, Oak Drive Ventures, and Boleh Ventures. The funding amount was not disclosed.

Netbank will use the capital to expand payment services, including real-time disbursements, collections, and cross-border rails. The company also plans to scale its embedded lending products and enhance account and card capabilities. Additional investment will go toward automation, risk infrastructure, and engineering hires.