- Salmon secures $30 million in Series A-2 funding
- The Philippine fintech aims to serve 50 million underbanked consumers
- Funds will boost lending, product development, and marketing efforts
Big Fish in a Big Pond
Salmon, a Philippine-based fintech company, has successfully secured $30 million in a Series A-2 funding round. The International Finance Corporation and Abu Dhabi’s Lunate participated in this significant investment, signaling strong confidence in Salmon’s potential to reshape the financial landscape in the Philippines.
Swimming Upstream
The newly acquired funds will fuel Salmon’s ambitious expansion plans. The company aims to broaden its lending operations and develop innovative financial products tailored to meet the needs of over 50 million Filipino consumers currently underserved by traditional banking institutions. This move could potentially disrupt the financial services sector in the Philippines.
Casting a Wider Net
Salmon isn’t just focusing on digital expansion. A portion of the capital will be allocated to enhance the company’s marketing efforts across thousands of retail locations throughout the Philippines. Additionally, Salmon plans to bolster its online services, creating a comprehensive approach to reaching and serving its target market.
