Salmon secures $30m in Series A-2 round from existing investors

By Gloria Mathias

Salmon, a provider of financial services and consumer lending products in Southeast Asia, has announced the successful completion of its $30 million Series A-2 equity financing round.

The planned round saw strong participation from key institutional investors in the company, including the International Finance Corporation (IFC) and Lunate of Abu Dhabi, both of which committed amounts substantially in excess of their pro-rata allocation rights.

The funds will be directed toward continuing to scale Salmon’s profitable lending business and launching new products designed to meet the evolving needs of more than 50 million Filipino consumers underserved by legacy banks. A portion of the proceeds will also bolster the company’s marketing activities at thousands of retail locations across the Philippines and expand its online offering.

In addition, subject to receiving 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 total capital to PHP 1.2 billion by the end of 2025.

This capital infusion will support the bank’s continued growth. Over the past 6 months, the Rural Bank of Sta. Rosa (Laguna) has emerged in the country, achieving one of the highest returns on equity (ROE) among regulated financial institutions in the Philippines.

Pavel Fedorov, Co-Founder of Salmon, shared, “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.”

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