What happened to Salmon? | Buzz Capital – Your Daily News Portal

Salmon, a consumer fintech company, recently declared that it had taken yet another step toward making loan repayment for its customers simpler.

It established repayment channels with five organizations, including MLhuillier, SM Bills Payment Centers (SM Stores), UnionBank, BPI, and RCBC, which will increase the number of online payment options available to Salmon customers and make loan repayment logistics even more convenient.

“We are delighted to have expanded our partnerships with these esteemed financial institutions, making it very easy and convenient for Salmon customers to make their loan payments in person or online,” commented Salmon Co-founder and Business Head in the Philippines Raffy Montemayor.

A total of 3,070 new in-person repayment locations were introduced by Salmon, a 56% increase from the 5,500 7-Eleven and Cebuana Lhullier stores that were already open to customers prior to the new cooperation agreements.

In the Salmon app, users can create a reference number or barcode that they can use to make payments at an increased number of brick-and-mortar establishments.

Alternatively, customers can make payments online and will be redirected to a partner bank’s page for login, receiving a one-time password (OTP) and payment confirmation.

Online payments can now be made via Union Bank, the Bank of the Philippine Islands, Rizal Commercial Banking Corporation, as well as by using G-cash and Maya e-wallets.

Salmon recently closed a US$20 million debt funding round, the largest ever debt financing for a Series A tech company in the Philippines, led by Argentem Creek Partners, an emerging markets specialist investor.