Salmon announced that it has secured a US$20 million debt facility from U.S. firm, Argentem Creek Partners.
Funds will enable firm to scale lending operations across Philippines
Building on significant investor interest in the debt placement, Salmon said it will expand its loan book, leveraging its existing point-of-sale and cash loan lending, and will launch new disruptive products in the second half of 2023. The startup was set up in July 2022 by a trio of fintech and financial services veterans from Russian digital bank Tinkoff, led by Pavel Fedorov, George Chesakov, and Raffy Montemayor, who brought together a team with a track record of delivering fast and profitable growth and quickly its first credit product only four months after inception and delivering new product launches every three months since then.
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