Salmon raises $100M in equity and debt to bring digital credit to underbanked Filipinos

Salmon, a Manila-based consumer finance app, has raised $100 million ($60M equity, $40M debt) to expand digital banking and credit services to underbanked Filipinos. Founded by former Tinkoff executives, Salmon acquired a rural bank in 2024 to secure its banking license and now offers products including revolving credit lines, installment loans, cash loans, motorbike loans, and deposits. The company uses real-time behavioral and digital data scoring instead of traditional credit history, delivering loan decisions in 20 seconds. Salmon has raised $310 million in total to date and plans to scale domestically before potentially expanding internationally within two years.