Salmon Raises $100M to Scale Digital Banking
Hey Digital Banking Fanatic!
Salmon Group has raised US$100 million in funding to accelerate its expansion in the Philippines.
The company plans to deploy the capital toward product development, distribution expansion, Salmon Bank capitalization, and scaling its lending portfolio.
The package reportedly includes US$28 million equity funding alongside a US$60 million drawdown from a US$150 million Nordic bond framework, marking the first such bond issuance by a Southeast Asian tech firm.
Another aspect to highlight from this story is the acquisition of a controlling stake in the Rural Bank of Sta. Rosa (Laguna), enabling it to operate as a digital banking platform.
Apparently, there is an ongoing trend where FinTech companies acquire rural banks to bypass the stricter requirements of securing a digital bank license, which mandates a minimum capital of US$17 million.
This is already raising regulatory concerns, and the Philippines Central Bank has warned that it might intervene if rural banks transition into digital banking models, where the focus moves away from its original purpose, to provide for agriculture and underserved communities.
If you’re tracking how Digital Banking players are navigating the markets in Asia and the rest of the world, keep scrolling 👇 Tomorrow, I'll be back in your inbox with more stories on the latest developments in the Digital Banking sector.
Cheers,
INSIGHTS
📰 Mobile Banking App Development Guide (2026) by DashDevs. Written by Igor Tomych of DashDevs, this guide explains that mobile banking apps are now the primary customer interface and their success depends more on backend infrastructure, compliance, integrations, and security than on user experience alone. Read the full article here
NEWS
🇵🇭 Salmon raises $100M to scale digital banking in the Philippines. The company plans to deploy the capital toward product development, distribution expansion, Salmon Bank capitalization, and scaling its lending portfolio. Read more
🇬🇧 Revolut CEO Storonsky says digital bank’s IPO is two years out. Nik Storonsky said he wants to take the London-based digital bank public, but not until at least 2028, extending the timeline on one of Europe’s most anticipated offerings. Watch the full interview here
🌍 Finom partners with Porters to automate back-office operations with AI. The system has already handled over 7,000 documents, improving efficiency while maintaining audit trails, and the company plans to expand its use to other critical processes and additional European markets.
🇷🇴 Libra Internet Bank taps Mifundo to gain international credit data for Romanian diaspora. By partnering with Mifundo, Libra will be able to combine verified credit bureau data with categorised bank account data, creating a unified cross-border view of creditworthiness that fits into existing credit processes, according to a joint statement.
🇺🇸 Meow expands stablecoin payment capabilities with BVNK. The BVNK integration gives Meow customers access to stablecoin and crypto payments, while extending access to multiple stablecoin currencies and the Swift network. Keep reading
🇺🇸 Credit card FinTech Mission Lane applies to be a National Bank. Mission Lane is seeking to become a national bank, headquartered in Richmond, Virginia, with the US Office of the Comptroller of the Currency and the Federal Deposit Insurance Corp., according to an application made public Monday.
Want your message in front of 100.000+ FinTech fanatics, founders, investors, and operators?
Shoot me a message on LinkedIn or send me an e-mail.
