Salmon, a fintech firm based in the Philippines, has concluded a US$30 million Series A-2 financing round, which saw participation from the International Finance Corporation and Abu Dhabi’s Lunate.

The funds raised will be used to expand Salmon’s lending operations and develop new financial products addressing the needs of over 50 million Filipino consumers underserved by traditional banks.

A portion of the capital will also improve Salmon’s marketing efforts across thousands of retail locations in the Philippines and strengthen its online services.