Fintech

Philippine fintech Salmon reels in $20M debt round

July 25, 2023
Salmon co-founders (left to right) George Chesakov, Pavel Fedorov, and Raffy Montemayor. Image from Salmon

Don’t have enough money to buy it? With Salmon, you won’t need to break the bank or trust fishy lenders anymore!Launched last year, this Philippine fintech makes it easy to borrow the money you need for your purchases — and just as easy to pay it back.

Investor check. Argentem Creek Partners led the round.

🌊 Strong financing currents

We all know access to credit and financing is tough in SEA  — for both individuals and businesses. And the Philippines? It has one of SEA's lowest GDP to lending ratios!

  • 76% of Salmon's customers received their first-ever loan from them.
  • The Philippines' bankable population projected to grow by 30% to 85M by 2030, and it’s tough for traditional banks to meet the rising demand for financial services.

🛍️ Shopper?

Don't shop 'til you drop. Use Salmon to finance some of your purchases and repay in installments — there's no need to break the bank.

Borrowing made easy. Sign up and get your loan of up to $900 approved in less than 10 minutes with one ID. Oh, and the downpayment's low too.

Easy to repay. Repay your loans in installments with no fees through local e-wallets like GCash and Maya, or over the counter at 7 Eleven and Cebuana Lhuillier.

Stay on track. Keep track of due dates, get reminders, and see how much you've borrowed via push notifications.

📈 Business?

Watch that $$$ roll in! Salmon's flexible financing terms to help you grow sales by up to 55%. Oh, and they verify the customers’ credit score for an installments in under 10 minutes!

Oh-so-easy. Get a real-time performance review of your business and customer insights laid out on their merchant portal.

💰 What’s with the $$$?

With this round, Salmon will expand operations across the Philippines and launch more products by late 2023.

  • They've launched a new product every three months since they started!

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