Salmon, a fast-rising fintech startup, has announced a massive $88 million funding round to accelerate its mission of building inclusive financial services across the Philippines. The round includes both equity and debt financing, making it one of the most significant capital raises in the region’s fintech space this year.
Building Financial Access for the Underserved
Founded in 2022, Salmon is focused on providing modern, customer-centric financial products—from buy-now-pay-later (BNPL) to personal loans and savings—for the underbanked and unbanked populations in Southeast Asia. The Philippines, where over 70% of adults lack access to traditional credit, is Salmon’s core market.
With this funding, Salmon plans to scale its product suite, grow its customer base, and expand into new regions across the country. The capital will also be used to enhance its tech infrastructure and credit risk models, ensuring secure and sustainable lending practices.
Strategic Backing
While the company has not disclosed all investors in this round, sources confirm participation from global venture funds, regional fintech leaders, and impact-focused investors. The funding signals strong confidence in Salmon’s business model and market opportunity.
According to Salmon co-founder and CEO Raffy Montemayor, “This investment allows us to accelerate our goal of making financial services accessible and affordable for every Filipino. We’re building tools that empower everyday people—not just the financially privileged.”
Why This Matters
The Philippines is a prime target for fintech disruption. With high mobile penetration, a young population, and limited access to traditional banking, the market offers immense potential for digital-first financial solutions.
Salmon is differentiating itself through:
- AI-powered credit underwriting for alternative risk scoring
- A mobile-first platform tailored to local languages and needs
- Focus on customer education and responsible borrowing
- Rapid partnerships with merchants and retailers to enable point-of-sale lending
A Growing Fintech Force
Since its launch, Salmon has already gained traction through its BNPL offerings at retail outlets and is now rapidly expanding into personal loans and savings products. The company is also exploring partnerships with e-commerce platforms, microbusinesses, and remittance providers.
With this fresh funding, Salmon aims to become a full-stack neobank for the Philippines’ underserved, setting a foundation for broader expansion across Southeast Asia.
Final Thoughts
Salmon’s $88M raise marks a major milestone not just for the startup, but for the evolution of inclusive fintech in Southeast Asia. As financial empowerment becomes a global priority, Salmon’s approach—tech-driven, customer-first, and deeply localized—sets a powerful example of how fintech can be both scalable and socially impactful.
