PROJECT

Projects

Summary of Investment Information

Project Number

49084

Company Name

Salmon Group Ltd

Date SPI Disclosed

Dec 20, 2023

Country

Philippines

Region

East Asia and the Pacific

Projected Board Date

Jan 31, 2024

Environmental Category

FI-2 - Limited

Status

Active

Last Updated Date

May 18, 2024

Department

Disruptive Technologies and Funds

Industry

Financial Markets

Previous Events

Approved : Feb 22, 2024
Signed : May 3, 2024
Invested : May 16, 2024

Sector

Finance Companies - Consumer Finance

Project Description

 The proposed project is an equity investment by IFC of up to US$7 million in Fintech Holdings Ltd, currently operating three Philippines subsidiaries under the brand name “Salmon” (the “Company”). With a focus on providing accessible and convenient financial services, Salmon leverages advanced technology and data-driven strategies to deliver a seamless user experience. The Company's primary goal is to enhance financial inclusion by offering a wide range of credit and deposit products, which will include  cash loans, revolving credit lines, point-of-sale financing, credit cards and debit cards.

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation