Salmon completes $30 million equity financing round

Salmon, a leading financial services and consumer lending provider in Southeast Asia and operator of a licensed bank in the Philippines, has successfully closed its $30 million Series A-2 equity financing round.

Key institutional investors, including the International Finance Corporation (IFC) and Abu Dhabi-based Lunate, participated in the funding round, committing amounts significantly exceeding their pro-rata allocation rights.

According to Salmon, the funds will support the scaling of its profitable lending business and the launch of new products tailored to the needs of over 50 million Filipino consumers underserved by traditional banks.

Additionally, part of the proceeds will enhance the company’s marketing activities at thousands of retail locations across the country and expand its online offerings.

Pending regulatory approval from the Bangko Sentral ng Pilipinas (BSP), Salmon also plans to allocate a portion of the funds to strengthen the capital base of the Rural Bank of Sta. Rosa (Laguna). The bank’s capital is set to increase to P1.2 billion by the end of 2025 to support its continued growth. Over the past six months, the Rural Bank of Sta. Rosa (Laguna) has become the fastest-growing bank in the country, achieving one of the highest returns on equity (ROE) among regulated financial institutions.

“Salmon’s mission has always been to drive financial inclusion, and the Philippines is one of the most exciting markets globally for unlocking access to credit. With this latest investment round, we are positioned to scale our operations even further, bring new products to market, and deepen our partnerships across the financial ecosystem. The recent success of the Rural Bank of Sta Rosa (Laguna), with its exceptional growth and market-leading ROE, is a testament to the potential of combining innovation with a strong commitment to local communities,” said Salmon co-founder Pavel Fedorov.

This funding round highlights the confidence of global institutional investors in Salmon’s potential to deliver transformative financial solutions in the Philippines and beyond.