consumer finance

Manila-based Consumer Finance App Salmon Raises $100M to Bring Digital Banking to Underbanked Filipinos

Salmon, a Manila-based consumer finance app founded by three ex-Tinkoff executives, has raised $60 million in equity and $40 million in debt to bring digital banking to millions of underbanked Filipinos. The startup acquired a rural bank in 2024 to secure its banking license and offers rapid digital lending—20-second loan decisions and next-day motorbike pickup—using behavioral data instead of traditional credit history. The company has raised $310 million total and plans to scale operations and potentially expand internationally within two years.