$90 million in financing was committed by Spice Expeditions, WashU, and Moore. In addition, $50 million was raised through bond issuance, which will be used to expand the profitable loan business and launch new products.
Manila, Philippines, October 19, 2026 / PRNewswire / -- The technology-driven bank and lending platform from the Philippines, Salmon Group, announced today that it has received an additional $140 million in financing to continue its growth in the Philippines.
The funds raised in this round of financing will be used to expand the profitable lending business (including Salmon Credit Line and store loans), and to launch new products nationwide, including motorcycle loans and loans for small, medium, and micro enterprises ( MSME ).
Salmon indicates that in less than four years of operation, the company has become one of the fastest-growing technology companies in the Philippines. It currently conducts its business through Salmon Bank, which holds a license from the Philippine Central Bank ( BSP ), as well as Salmon Finance, a financing company that has obtained a license from the Philippine Securities and Exchange Commission ( SEC ).
Salmon Group indicates that today, the group's companies serve millions of Filipino users through the Salmon application. This app is one of the highest-rated financial services apps in the Philippines, with 9 million downloads. It has received a rating of 4.8 on both App Store and Google Play, and its system availability reaches 99.9%. It also provides 24/7 dedicated customer support. Powered by the AI credit engine of the group's financing business department Salmon Finance, Salmon is able to serve customers with limited credit histories and can make credit decisions within minutes.
Salmon, co-founder Pavel Fedorov, stated: "For many Filipinos, there are unnecessary frictions in daily financial services. We are working to remove these obstacles and create innovative products that offer the reliability and security that today's customers expect."
He stated, "We are increasing our investment in the Philippines because we firmly believe in the scale of this market and the importance of focusing on achieving differentiated execution. This financing will enable us to do more: to expand banking and credit services to more Filipinos, launch new products, and continuously raise the standards of the country's financial services industry. We are grateful to our existing investors for their support in the next phase of our mission."
About Salmon
Salmon Group is a technology-driven financial services holding company that is making its start in the Philippines and is building banking and lending platforms in Southeast Asia. The group operates entities including Salmon Bank (Rural Bank) Inc which holds a BSP license, Salmon Finance Inc which holds a SEC license, as well as a range of continuously expanding financial products. All services are provided through the Salmon app, which is a modern financial application designed for everyday Filipino users.
Salmon was founded in July 2022 by senior professionals from the banking and technology industries, Pavel Fedorov, George Chesakov, and Raffy Montemayor. It has received support from leading American venture capital investors, IFC (World Bank Group), ADQ / Lunate, Antler, as well as renowned Filipino investors. The app has received a score of 4.8 on both App Store and Google Play, making it one of the highest-rated financial services apps in the Philippines.
