That’s a big catch! Meet Salmon. This Philippine fintech gives Filipinos easy access to financial services and lending products. Now, they’ve just raised a $30M Series A2 round.

Investor check. The International Finance Corporation and Abu Dhabi’s Lunate joined in.

• They just raised a $25M Series A extension earlier this year.
• It’s an equity round.

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🐟 Just keep swimming

They started in 2022 and are best known for their consumer lending products. They have 3 different offerings allowing you to easily access short-term credit and build your own credit score!

• It’s powered by their AI-enabled technology and a proprietary credit engine.

Installments. Anyone can access their installment offerings! Buy a product at a Salmon Partner store with a downpayment, and pay the remaining in installments based on your profile and credit history.

• Loans are from 1,000 PHP (~$18) to 30,000 PHP (~$530).
• Downpayment is 10-70% of the total purchase value.
• Repay in 4, 6, 9, or 12 months.

‍Been good (at paying back) this year? For select customers, you can also access their revolving credit line (think credit cards without the cards) and cash loans.

‍And more! They’ll be going beyond lending products and into more financial services since they’re also a licensed bank.

• They recently acquired controlling interest of a rural bank in the Philippines.

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💰What’s with the $$$?

They’ll be scaling their lending business, launching new financial products, and deepen their partnerships across the financial ecosystem.

• Some of the $$$ will also be injected into their rural bank to increase the total capital of the bank to 1.2B PHP (~$21.1M) by the end of 2025.