Filipino fintech company Salmon has raised US$30 million in a Series A-2 funding round led by existing investors.
This includes the International Finance Corporation (IFC) and Abu Dhabi-based Lunate, both of which contributed more than their allocated shares.
The funds will be used to expand Salmon’s lending operations and introduce new products aimed at meeting the needs of underserved Filipino consumers.
Part of the funding will also support marketing initiatives across retail locations in the Philippines and boost the company’s online services.
Pending regulatory approval from the Bangko Sentral ng Pilipinas (BSP), Salmon plans to use a portion of the funds to increase the capital of the Rural Bank of Sta. Rosa (Laguna) to PHP 1.2 billion by 2025.
Salmon became the majority shareholder of the bank with a 59.7% stake following its acquisition in 2023.
The company had planned to open new branches in key areas, including Metro Manila, Cebu, and Davao, pending further approval from the BSP.

Pavel Fedorov, Co-Founder of Salmon said,
“Salmon’s mission has always been to drive financial inclusion, and the Philippines is one of the most exciting markets globally for unlocking access to credit. With this latest investment round, we are positioned to scale our operations even further, bring new products to market, and deepen our partnerships across the financial ecosystem.
The recent success of the Rural Bank of Sta Rosa (Laguna), with its exceptional growth and market-leading ROE, is a testament to the potential of combining innovation with a strong commitment to local communities.”
Featured image credit: Edited from Freepik