Salmon Group, a Philippine banking and lending platform built on technology, has raised a further $140m (PHP 8.8bn) as it concentrates its ambitions entirely on the Philippine market and prepares to take new credit products nationwide.

The new capital is earmarked for two priorities. First, Salmon plans to expand its existing profitable lending lines, namely the Salmon Credit Line and its in-store lending offer. Second, it will finance a national launch of fresh products, with motorcycle loans and lending to micro, small and medium-sized enterprises (MSMEs) leading the pipeline.

The raise follows a period of rapid expansion. Salmon has been operating for under four years and in that time has positioned itself among the quickest-growing technology firms in the country. Its structure combines two regulated entities: Salmon Bank (Rural Bank), which holds a licence from the BSP, and Salmon Finance, a financing company licensed by the SEC.

Customer reach is delivered through the Salmon app, which serves millions of Filipinos. The app has recorded 9 million downloads and carries a 4.8 rating across both the App Store and Google Play. Salmon also reports 99.9% uptime and round-the-clock customer support.

Salmon Finance, which acts as the group’s financing arm, uses an AI-driven credit engine to assess applicants. This allows the company to lend to people with thin credit files and return decisions in a matter of minutes, a capability central to its strategy of widening access to credit.

Salmon co-founder Pavel Fedorov said, “Everyday financial services come with unnecessary friction for many Filipinos.

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