MariBank secures $75m to support digital banking expansion

By Vriti Gothi

MariBank has received a further $58.5 million capital injection from parent company Sea Ltd, raising the Singapore digital bank’s paid-up capital to roughly $639 million, according to regulatory filings first reported by DealStreetAsia.

The latest funding follows a shareholder top-up of around $78 million in May 2025, as Sea continues to support MariBank’s expansion under Singapore’s digital banking framework. Digital banks licensed by the Monetary Authority of Singapore are required to progressively strengthen their capital base in line with growth and risk profiles.

The investment arrives amid a broader shift in the digital lending sector across Southeast Asia, as players pivot from rapid customer and deposit growth towards stabilising revenue and enhancing customer engagement.

MariBank has expanded its services beyond core savings and payments into small and medium-sized enterprise (SME) lending and gold-linked investment products, aiming to increase usage and diversify income streams.

Financial disclosures show that MariBank’s revenue more than doubled in 2024, rising to $19 million, supported by higher interest income as lending volumes expanded. However, costs remained elevated, with operating expenses climbing to $55.6 million.

After setting aside S$4.4 million for expected credit losses, MariBank reported a loss after tax of $39.9 million for 2024, broadly unchanged from the $38.6 million loss in 2023. Total comprehensive loss for the year stood at $39 million

Speaking at DealStreetAsia’s Asia PE-VC Summit 2025 in Singapore, MariBank’s chief financial officer said the bank evaluates performance based on how frequently customers use its services, rather than transaction volumes alone, as it works towards long-term sustainability.

Launched in March 2023, MariBank offers services including fee-free remittances, savings accounts with daily interest crediting, and investment products that allow instant withdrawals.