Salmon, a leading provider of financial services and consumer lending products in Southeast Asia, operating a licensed bank in the Philippines, today announces the successful completion of its $30-million Series A-2 equity financing round. The planned round saw strong participation from key institutional investors of the Company, including the International Finance Corp. (IFC) and Lunate of Abu Dhabi, with both committing amounts substantially in excess of their pro-rata allocation rights.
The funds will be directed toward continued scaling of Salmon’s profitable lending business and launching new products designed to meet the evolving needs of more than 50 million Filipino consumers underserved by the legacy banks. A portion of the proceeds will also bolster the company’s marketing activities at thousands of retail locations across the Philippines, as well as expand its online offering.
In addition, subject to receiving regulatory approvals from the Bangko Sentral ng Pilipinas (BSP), Salmon intends to allocate a portion of the proceeds to strengthen the capital base of the Rural Bank of Sta. Rosa (Laguna), with plans to increase the bank’s total capital to P1.2 billion by the end of 2025. This capital infusion will support the bank’s continued growth. Over the past six months, the Rural Bank of Sta. Rosa (Laguna) has emerged as the fastest-growing bank in the country, achieving one of the highest returns on equity (ROE) among regulated financial institutions in the Philippines.
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