Funding Lending

Filipino Fintech Salmon Raises US$20 Million Debt Facility

Filipino fintech Salmon announced that it has raised a US$ 20 million debt facility from U.S.-based emerging-markets specialist investment firm Argentem Creek Partners. This will enable Salmon to further scale its lending operations across the Philippines.

Salmon will expand its loan book by leveraging its existing point-of-sale and cash loan lending. The firm also aims launch new products in the second half of 2023.

Founded in July 2022 by Pavel Fedorov, George Chesakov, and Raffy Montemayor, Salmon had rolled out its first credit product four months after its inception and has launched a new product every three months since then.

Raffy Montemayor

Salmon Co-founder Raffy Montemayor said,

“We are tremendously humbled by the strong investor interest, as well as Argentem Creek’s support for Salmon’s vision to create the best credit-led fintech in Southeast Asia and for making financial services more accessible to all.

We especially want to highlight Argentem Creek’s focus on building a win-win partnership with Salmon and believe that there will be many options for extending our work together, as Salmon maintains its rapid pace of development in Southeast Asia.”

Maarten Terlouw

Maarten Terlouw, President and Co-CIO, Argentem Creek Partners said,

“Argentem Creek Partners is delighted to deliver an important component of Salmon’s capital structure.

We look forward to working together with Salmon’s world class investors including Abu Dhabi’s sovereign wealth fund ADQ, one of Europe’s top venture investors and a group of prominent local investors, as well as Salmon’s top notch management team, to deliver long-term value in the Philippines.”