Manila – October 19, 2026 -- Salmon Group, a technology-driven banking and lending platform in the Philippines, has secured an additional $140 million in financing to expand its lending operations in the country.
Financing combines $90 million in commitments with $50 million in bond proceeds
The round consists of $90 million committed by Spice Expeditions, WashU and Moore, plus $50 million of bond proceeds.
Proceeds will fund the scaling of profitable lending, specifically the Salmon Credit Line and in-store lending. They will also finance the nationwide roll-out of new products, including motorcycle and MSME lending.
Salmon reaches 9 million app downloads in under four years of operations
Salmon operates through two licensed entities: Salmon Bank (Rural Bank), licensed by the BSP, and Salmon Finance, licensed by the SEC. The company describes itself as one of the fastest-growing technology companies in the Philippines.
The Salmon app has 9 million downloads, a 4.8 rating on both the App Store and Google Play, 99.9% uptime and 24/7 customer support.
AI-powered credit engine delivers decisions within minutes for thin-file borrowers
Salmon Finance, the group's financing arm, uses an AI-powered credit engine to serve customers with limited credit history. The engine returns credit decisions within minutes.
Co-founder Pavel Fedorov said the company is concentrating on the Philippine market and will use the funds to extend banking and credit access to more Filipinos and to roll out new products.