Salmon Group, a technology-driven banking and lending platform in the Philippines, has secured an additional $140 million of financing to continue its growth in the country.

Proceeds from the round will fund the scaling of profitable lending, including Salmon Credit Line and in-store lending, and the nationwide roll-out of new products, including motorcycle and MSME lending.

Fast growth in under four years

In less than four years of operations, Salmon has become one of the fastest-growing technology companies in the Philippines. It operates through two licensed entities:

• Salmon Bank (Rural Bank), licensed by the BSP
• Salmon Finance, a financing company licensed by the SEC

Millions served through one app

The companies in Salmon Group serve millions of Filipinos through the Salmon app, one of the highest-rated financial services apps in the Philippines. The app has:

• 9 million downloads
• A 4.8 rating on the App Store and Google Play
• 99.9% uptime
• Dedicated 24/7 customer support

AI-powered credit decisions

Through the AI-powered credit engine of Salmon Finance, the group’s financing arm, Salmon is able to serve customers with limited credit history and provide credit decisions within minutes.

What Salmon says

“Everyday financial services come with unnecessary friction for many Filipinos. We’re removing these barriers and building innovative products with the reliability and security customers expect in today’s world,” said Pavel Fedorov, co-founder of Salmon.

“We are doubling down on the opportunity in the Philippines as we believe deeply in its scale and in the importance of focus to deliver a differentiated execution. This financing lets us do more: extend banking and credit access to more Filipinos, roll out new products, and keep raising the bar for the financial services industry in the country. We are grateful to our existing investors for backing the next stage of our mission.”

Salmon Raises $100 Million to Shake Up How Filipinos Borrow and Save