Salmon raises $20m debt facility from Argentem Creek Partners

By Gloria Mathias

Salmon, a consumer FinTech company, has secured a $20 million debt facility from U.S-based investment firm Argentem Creek Partners, enabling Salmon to scale its lending operations across the Philippines further.

The FinTech platform aims to 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.

Salmon Co-founder Raffy Montemayor shared, “We are tremendously humbled by the strong investor interest, as well as Argentem Creek’s support for Salmon’s vision to create the best credit-led FinTech in Southeast Asia and make financial services more accessible to all. We especially want to highlight Argentem Creek’s focus on building a win-win partnership with Salmon and believe that there will be many options for extending our work together as Salmon maintains its rapid pace of development in Southeast Asia.

We see this milestone as a testament to Salmon’s potential and the market’s trust in our vision and business model. This transaction also conveys a message of hope to many young and aspiring Filipinos, highlighting to them the incredible opportunities that the global investment community sees in the Philippines today. 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,” added Montemayor.

Argentem Creek Partners’ CEO & Founder Daniel Chapman shared, “Consumer lending is one of the fastest growing segments in Southeast Asia. We are convinced that the new generation of credit-focused FinTech like Salmon have a tremendous opportunity and that Argentem Creek could play an important role in driving forward financial inclusion in these exciting markets”.

This deal positions Salmon, founded in 2022, as a fast-growing FinTech firm in Southeast Asia. In year one, the company expanded rapidly, launching its first credit product only four months after inception and delivering new product launches every three months since then.