Former UnionDigital, Grab Financial, & HSBC executive to scale Tonik's payroll-lending arm

MANILA, Philippines, July 4, 2025 /PRNewswire/ -- Tonik Financial, the Philippines' first digital-only bank licensed by the Bangko Sentral ng Pilipinas (BSP), today announced the appointment of fintech veteran Mike Singh as President of Templetech Inc. ("Tendo"), its SEC-licensed consumer lending subsidiary. Tendo provides salary-deducted credit to employees of leading employers in the Philippines.

Singh succeeds founder Kacper Marcinkowski, who built Tendo into a breakout player in payroll lending and is stepping down to launch his next venture.

Under Marcinkowski's leadership, Tendo onboarded over 300 employers, including Concentrix, the Philippines' largest private employer, and extended instant, affordable credit access to 150,000+ employees. Tendo's loan portfolio has been surging up to 200% year on year since 2022.

Greg Krasnov, Founder & CEO of Tonik Financial:
"Kacper proved that fully digital, responsible payroll lending can scale at startup velocity. We're incredibly grateful for what he's built. As we move into the next phase of expansion, Mike brings the scale mindset we need. His proven track record—driving 10× loan book growth at UnionDigital, scaling new ventures at Grab Financial and AsiaKredit, and building consumer finance businesses in emerging markets for HSBC—uniquely positions him to lead Tendo into its next chapter."

Singh is a recognized leader in mass-market unsecured digital lending, leveraging alternative data to drive credit inclusion. He previously served as Chief Commercial Officer of UnionDigital Bank and led lending and ecosystem partnerships at Grab Financial. He has launched, scaled, and exited multiple fintech and retail ventures in the Philippines, including his most recent digital lending leader, AsiaKredit (which he co-founded w/ Krasnov), to Grab Financial. 

In his new role, Singh will:

• Lead Tendo as President, with full P&L ownership.
• Serve as Chief Strategy & Ecosystem Officer of Tonik Group, focused on scaling strategic partnerships and embedded finance.
• Join Tonik's Group Management Board, reporting directly to CEO Greg Krasnov.

He assumed office on 16 June 2025.

Mike Singh:
"Tendo's B2B2C payroll model is redefining mass-market credit in the Philippines. It's a rare platform with deep employer integration and bank-grade rails. I'm excited to build on Kacper's strong foundation and take this to national scale."

Kacper Marcinkowski:
"It's been an incredible journey building Tendo. I leave knowing it's in great hands. Mike's the right leader to scale both impact and ambition."