Salmon Group Ltd, a credit-led fintech in the Philippines, has raised further $50 million in an oversubscribed Nordic bond issue, accelerating its goal to build Southeast Asia’s next-generation consumer banking.

The firm said in a statement on Wednesday that this latest raise follows the $60 million inaugural bond issue in April 2025, bringing Salmon’s total bond financing to $110 million under its $150 million Nordic bond framework.

It noted that strong demand from global fixed income investors made the issue two times oversubscribed, underlining market confidence in Salmon’s growth trajectory and financial performance.

“We are opening a new chapter for the Philippine financial services industry. The market is supported by strong macro tailwinds, a rapidly growing consumer class, and robust regulatory framework,

“On top of this, technological innovation and the network effects of an emerging credit infrastructure are compounding the opportunity,” said Pavel Fedorov, Co-Founder of Salmon.

According to him, Salmon Group Ltd., through its subsidiaries – Sunprime Finance Inc. and Salmon Bank (Rural Bank) Inc. – is at the forefront of this opportunity with products ranging from revolving credit lines, physical and virtual cards, product and personal loans, to moto loans and time deposits – with many more innovations in the pipeline.

“This new funding allows us to scale faster and continue transforming the legacy banking industry in the Philippines and across Southeast Asia,” he added.

Salmon raises $88M to grow fintech business in the Philippines