Salmon Group raises $140 million to fuel PH banking expansion

MANILA — Tech-driven banking platform Salmon Group announced Monday that it has secured an additional $140 million in financing to accelerate its nationwide growth and expand financial access across the country.

The fresh capital will fund the scaling of the group’s core credit services, including point-of-sale lending and the Salmon Credit Line, while backing a nationwide rollout of new products tailored for motorcycles and micro, small, and medium enterprises (MSMEs), the company said.

Operating through two regulated entities—Salmon Bank and financing arm Salmon Finance—the firm has emerged as one of the country’s fastest-growing financial technology companies since launching less than four years ago. 

Its mobile app has registered nine million downloads, relying on an AI-driven credit engine to evaluate non-traditional borrowers and deliver loan decisions within minutes.

“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,” co-founder Pavel Fedorov said in a statement.

Fedorov added that the company is “doubling down” on its Philippine operations, backed by continued investment from its existing shareholder base.