Credit-led fintech company Salmon Group Ltd has raised $50 million in its second Nordic bond issue, bringing its total bond financing to $110 million under a $150 million framework.
The latest issue, which follows a $60 million bond raise earlier this year, was twice oversubscribed, reflecting continued investor interest in the company and the Philippine consumer finance market.
Salmon said the new funding will support its goal of developing a next-generation consumer bank in Southeast Asia, with a focus on providing financial products for the region’s expanding middle class.
In a statement, Salmon said that the additional capital will allow the company to expand faster and continue building financial solutions that make credit more accessible to consumers.
Salmon was established to improve access to credit and digital banking services in emerging markets. The company offers a range of consumer finance products, including installment loans and point-of-sale financing, through partnerships with retailers and digital platforms.
The proceeds from the bond issue will be used to strengthen Salmon’s lending operations and support its plans for regional expansion.