Salmon scales again! The Philippines-based credit-led fintech has just raised $50M in an oversubscribed Nordic bond issue. 

This follows a $60M bond issued in April this year, bringing their total bond financing to $110M under a $150M framework. 

• Pareto Securities was the only bookrunner and underwriter for the bond issue. 

They have also recently been approved to rename themselves by the Philippine Central Bank. Salmon acquired a local Philippine rural bank that has since been approved to be renamed to “Salmon Bank (Rural Bank)”.

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🎣 Full speed ahead

Launched in 2022, Salmon offers access to financial services through its subsidiaries, financing firm Sunprime Finance and Salmon Bank. 

• They offer products ranging from revolving credit lines, physical and virtual cards, product and personal loans, to motor loans and time deposits.
• Salmon uses AI-enabled tech and a proprietary credit engine to power their services.

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↗️ Where to, next? 

The $$$ will enable them to scale faster and continue transforming the legacy banking industry in the Philippines and across SEA.