The Salmon Co-Founders
Salmon, a consumer fintech company based in the Philippines, has secured a US$20 million debt facility from US emerging-markets specialist investment firm Argentem Creek Partners.
This will allow Salmon to scale its lending operations across the country further. The fintech firm will expand its loan book, leveraging its existing point-of-sale and cash loan lending, and launch new products in the second half of 2023.
Launched in July 2022 by banking and fintech veterans Pavel Fedorov, George Chesakov, and Raffy Montemayor, the Salmon platform enables customers to access financial products from partners registered with the Securities and Exchange Commission (SEC) in the Philippines.
The fintech firm launched its first credit product four months after inception.
The company has 140 staffers in its Manila headquarters.
It also counts Abu Dhabi’s sovereign wealth fund ADQ and one of Europe’s top venture investors among its investors.
Co-founder Montemayor said: “Financial inclusion will be an important driver of sustainable economic growth in the Philippines, and Salmon is committed to continuing to play a key role in this transformation.”
Argentem Creek Partners President and Co-CIO Maarten Terlouw added: “We are a long-term value-oriented investor and are excited to support Salmon in its ambitious drive to expand financial inclusion across the region, as well as to provide best-in-class customer service and make lending more accessible to consumers in the region.”
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