Manila-based fintech startup Salmon has raised $100 million in a combined equity and debt funding round to scale its digital lending and banking services across the Philippines. The round includes $60 million in equity and $40 million in debt financing, highlighting strong investor confidence in the country’s growing fintech ecosystem.
Founded in 2022, Salmon is focused on serving underbanked and underserved consumers, particularly individuals with limited or no credit history. The company aims to bridge gaps left by traditional financial institutions by offering accessible digital credit solutions through its mobile-first platform.
The newly raised capital will be used to expand Salmon’s product suite, strengthen its distribution network, and scale its lending operations nationwide. The company is also working to enhance the capitalization of its licensed banking entity, enabling it to offer a broader range of financial services.
Salmon currently provides a range of products, including revolving credit lines, installment loans, cash loans, motorbike financing, and deposit services. Its approach focuses on delivering faster, more reliable alternatives to traditional lenders, particularly for customers who face limited access to formal banking channels.
The startup’s growth strategy includes leveraging its banking license—secured through the acquisition of a rural bank in 2024—to build a full-stack digital financial ecosystem. This allows Salmon to operate both as a lending platform and a regulated bank, giving it a competitive edge in scaling services.
The funding comes amid increasing digital adoption in the Philippines, where a large portion of the population remains underbanked despite high mobile and internet usage. Salmon’s expansion reflects a broader trend in Southeast Asia, where fintech companies are targeting financial inclusion through technology-driven solutions.
With this investment, Salmon aims to position itself as a key challenger in the region’s consumer finance market, focusing on affordability, accessibility, and digital-first banking experiences to capture a rapidly growing user base.
