Philippine Fintech Salmon Secures $140M to Expand Lending
Manila-based fintech Salmon has secured $140 million (PHP 8.8 billion) to scale its credit products and roll out motorcycle and MSME loans.
Salmon, one of the fastest-growing fintech companies in the Philippines, has secured an additional $140 million (about PHP 8.8 billion) in financing from existing investors to expand its lending business. The company announced the funding in Manila on 19 October 2026.
A bank and a lender under one roof
Salmon has been operating for less than four years. It runs Salmon Bank, a rural bank licensed by the Bangko Sentral ng Pilipinas, and Salmon Finance, a financing company licensed by the Securities and Exchange Commission. Its products include the Salmon app, the Salmon Credit Line and in-store lending at retail partners.
The Salmon app has been downloaded 9 million times and carries a 4.8 rating on the App Store and Google Play. The company uses an AI-driven credit engine to assess customers with limited credit history and says it can make lending decisions within minutes.
Motorcycle and MSME loans go nationwide
The new capital will be used to scale Salmon’s profitable lending lines, the Salmon Credit Line and in-store loans, and to roll out new products across the country. These include motorcycle financing and loans for micro, small and medium enterprises (MSMEs).
Co-founder Pavel Fedorov said many Filipinos still face unnecessary friction with everyday financial services, and that the company is doubling down on the Philippine market to widen access to banking and credit.
Salmon did not disclose the split between equity and debt in the financing or name the investors involved.
Key facts: Salmon financing
- Amount: $140 million (PHP 8.8 billion)
- Source: existing investors
- Licences: Salmon Bank (BSP rural bank), Salmon Finance (SEC-licensed)
- App downloads: 9 million
- New products: motorcycle loans, MSME lending
Why it matters
Salmon is betting that many Filipinos still lack easy access to formal credit. A raise of this size gives it the balance sheet to grow loan volumes quickly as it moves from unsecured consumer credit into secured lending such as motorcycle loans.
Photo: David Milmont / Unsplash
