Who’s reeling it in? It’s Philippine fintech startup Salmon. They just raised a $25M Series A extension round!

• Founded in July 2022, they’re a lending company that gives Filipinos easy access to credit.
• The Philippine central bank says only 25% of Filipinos have access to formal credit.

Investor check. The IFC led the round, investing $7M. Northstar Group also joined in.

• They raised $20M in debt last year.

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🍣 Nothing fishy

They have 3 different offerings allowing you to easily access short-term credit and build your own credit score.

• It’s powered by their AI-enabled technology and a proprietary credit engine.

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🤑 Start simple

Installments. Anyone can access their installment offerings! Buy a product at a Salmon Partner store with a downpayment, and pay the remaining in installments based on your profile and credit history.

• Loans are from ₱1,000 to ₱30,000.
• Downpayment is 10-70% of the total purchase value.
• Interest rates and fees depend on the customer.
• Repay in 4, 6, 9, or 12 months.

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😉 On your best behavior

They have two other offerings for select customers.

Credit. If you’ve used Salmon Installments with no payment delays, you can access a revolving credit line. Think credit cards—but without a card.

• Apply once, no need to reapply
• Only pay interest on the amount you use.
• Spend with QR or use bank transfer or e-wallets. It’s not locked to certain merchants or items.

Cash Loans. Oh, and select customers can access their cash loan to directly transfer funds to your bank account or e-wallet.

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🏦 So many possibilities

And as of last December, they’re also a licensed bank, which allows them to expand their services to deposit accounts, debit and credit cards, and other transactional products.

That’s why. With the new funding, they’ll develop new credit products, go beyond lending and into lifestyle banking offerings, and also grow their current credit offerings.