Netbank has concluded a Series B funding round, spearheaded by Altara Ventures, to expand its Business as a Service (BaaS) platform for customers and users in the Philippines.

Existing investors BeeNext, Kaya Founders, January Capital, Oak Drive Ventures, and Boleh Ventures have all joined this round with additional investments.

According to Netbank’s official press release, the funds will be directed towards enhancing payment capabilities, including real-time disbursements, collections, and cross-border transactions. The company also plans to scale embedded lending products for partner platforms and deepen its account and card infrastructure. Additional investments will go toward automation, risk management systems, and engineering talent.

Netbank positions itself as ‘Partnership Based Banking,’ offering financial services infrastructure that enables third-party platforms to provide banking products to end users without managing separate provider relationships directly. The re-investment by the full participant base of existing investors underscores continued confidence in both execution and market positioning.

Southeast Asia’s digital infrastructure gap

This funding round highlights broader trends within Southeast Asia’s digital financial services landscape, where there is a scarcity of regulated infrastructure capable of supporting fast-paced digital platforms. An official from Altara Ventures noted that one ongoing challenge in the region is the lack of reliable financial infrastructure. Netbank’s modular and compliance-focused approach is seen as addressing operational pain points for its partners.

For fintechs operating in the Philippines, building compliant financial infrastructure has historically been complex and costly due to the need to integrate multiple providers. By consolidating these components under a single licensed entity, Netbank streamlines this process, reducing compliance and operational overhead for developing financial products.

The Philippines stands out as one of Southeast Asia’s faster-growing digital economies, making scalable, regulated infrastructure increasingly important for platforms aiming to offer payments, lending, or account services to their customers.

Details regarding the financial terms of this Series B round have not been disclosed.