""We saw that the Philippines and broader Southeast Asia were proving themselves in terms of innovation. The Philippines is probably one of the most exciting markets for disruption in the financial services industry in the world.""
""We started by solving the hard things first, lending, and then followed up with many other products. By now, we have around seven or eight different products. It's impossible for a traditional bank to solve this problem given the current credit market infrastructure in the Philippines.""
Salmon, a consumer finance app in the Philippines, has raised $100 million to enhance digital banking for unbanked adults. Founded by former Tinkoff employees, Salmon targets underbanked individuals and those dissatisfied with traditional lenders. The company acquired a rural bank to secure its banking license and is developing various financial products, including loans and deposits. Salmon's approach focuses on addressing the challenges of the local credit market, which traditional banks struggle to navigate.
Read at TechCrunch
Unable to calculate read time
Collection
[
|
...
]