# SALMON SECURES $140 MILLION (PHP 8.8 BILLION) TO DOUBLE DOWN ON THE GROWTH OPPORTUNITY IN THE PHILIPPINES

- Link: https://www.thailand-business-news.com/pr-news/salmon-secures-140-million-php-8-8-billion-to-double-down-on-the-growth-opportunity-in-the-philippines
- Published: 2026-10-19T12:18:00+07:00
- Author: PR Newswire

|   |

_$90 million financing committed by Spice Expeditions, WashU and Moore and $50 million
of bond proceeds to fund the scaling of profitable lending and launches of new products_

MANILA, Philippines, Oct. 19, 2026 /PRNewswire/ — Salmon Group, a technology-driven
banking and lending platform in the Philippines, today announces that it secured
additional $140 million of financing to continue its growth in the Philippines.

 [⌊Salmon co-founders (from left to right: George Chesakov, Pavel Fedorov and Raffy Montemayor) in front of Nasdaq's headquarters in Times Square, New York.⌉](https://mmx.prnasia.com/media/MS2015722/20261018223839EDT_image_1.jpg?id=OA3025737&p=medium600)

Salmon co-founders (from left to right: George Chesakov, Pavel Fedorov and Raffy
Montemayor) in front of Nasdaq’s headquarters in Times Square, New York.

Proceeds from the financing round will fund the scaling of profitable lending (Salmon
Credit Line and in-store lending) and nationwide roll-out of new products, including
motorcycle and MSME lending.

In less than four years of operations, Salmon has become one of the fastest-growing
technology companies in the Philippines, operating through a BSP-licensed bank, 
Salmon Bank (Rural Bank) and an SEC-licensed financing company, Salmon Finance. 

Today, the companies in Salmon Group serve millions of Filipinos through its Salmon
app – one of the highest rated financial services apps in the Philippines with 9
million downloads, 4.8 rating on App Store and Google Play, 99.9% uptime, and dedicated
24/7 customer support.  Through the AI-powered credit engine of Salmon Finance, 
the group’s financing arm, Salmon is able to serve customers with limited credit
history and provide credit decisions within minutes.

"Everyday financial services come with unnecessary friction for many Filipinos. 
We’re removing these barriers and building innovative products with the reliability
and security customers expect in today’s world," said **Pavel Fedorov, co-founder
of Salmon**. "We are doubling down on the opportunity in the Philippines as we believe
deeply in its scale and in the importance of focus to deliver a differentiated execution.
This financing lets us do more: extend banking and credit access to more Filipinos,
roll out new products, and keep raising the bar for the financial services industry
in the country. We are grateful to our existing investors for backing the next stage
of our mission."

**ABOUT SALMON**

Salmon Group is a technology-driven financial services holding company building 
a banking and lending platform across Southeast Asia, starting with the Philippines.
The Group operates a BSP-licensed bank, Salmon Bank (Rural Bank) Inc.; an SEC-licensed
financing company, Salmon Finance Inc.; and a growing suite of financial products–
all delivered through the Salmon app, a modern money app built for everyday Filipinos.
Founded in July 2022 by banking and technology veterans Pavel Fedorov, George Chesakov,
and Raffy Montemayor, Salmon is backed by leading US venture investors, IFC (World
Bank Group), ADQ/Lunate, Antler as well as prominent Filipino investors. The Salmon
app is rated 4.8 in both the App Store and Google Play, one of the highest ratings
for a financial services app in the Philippines.

 

---

  |  This article was produced by Cision PR Newswire, our trusted news partner. The views expressed and the content presented here are solely those of the author and may not fully reflect the opinions of Thailand Business News. |

---

 
**Read the original article :** [SALMON SECURES $140 MILLION (PHP 8.8 BILLION) TO DOUBLE DOWN ON THE GROWTH OPPORTUNITY IN THE PHILIPPINES ](http://www.prnasia.com/story/archive/5075003_AE75003_0?rand=184833)