Salmon is completing an oversubscribed $30-million Series A-2 financing, securing funding from existing investors.

Salmon, a leading provider of financial services and consumer lending products in Southeast Asia, operating as a licensed bank in the Philippines, today announces the successful completion of its $30-million Series A-2 equity financing round. The planned round attracted strong participation from the Company’s key institutional investors, including International Finance Corp. (IFC) and Abu Dhabi’s Lunate, both made amounts exceeding their pro-rata allocation rights.

The funds will be directed towards the continued growth of Salmon’s profitable lending business and the launch of new products designed to meet the changing needs of others. more than 50 million Filipino consumers are underserved by legacy banks. A portion of the proceeds will also support the company’s sales operations in thousands of retail locations across the Philippines, and expand its online offerings.

In addition, subject to obtaining regulatory approvals from the Bangko Sentral ng Pilipinas (BSP), Salmon intends to allocate a portion of the proceeds to strengthen the capital base of the Rural Bank of Sta. Rosa (Laguna), with plans to increase the bank’s net worth to P1.2 billion by the end of 2025. This investment will support the bank’s continued growth. Six months ago, the Rural Bank of Sta. Rosa (Laguna) emerged as the fastest growing bank in the country, achieving one of the highest return on equity (ROE) among regulated financial institutions in the Philippines.

Pavel Fedorov, founder of Salmon, commented: “Salmon’s mission has always been to promote financial inclusion, and the Philippines is one of the most exciting markets in the world to open access to credit. With this latest investment round, we are poised to expand our operations even further, bring new products to market, and deepen our relationships within 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 ability to combine innovation and strong commitment to local communities.

This new investment round underscores the confidence global institutional investors have in Salmon’s ability to continue to deliver transformative financial solutions in the Philippines and beyond.

About Salmon:
Salmon is a leading fintech company focused on bringing innovative lending solutions to underserved consumers in Southeast Asia. By combining state-of-the-art AI technology with deep market understanding, Salmon empowers people to access credit, foster financial inclusion and drive economic growth in the region.

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