$90 million financing committed by Spice Expeditions, WashU and Moore and $50 million of bond proceeds to fund the scaling of profitable lending and launches of new products
MANILA, Philippines, Oct. 19, 2026 /PRNewswire/ -- Salmon Group, a technology-driven banking and lending platform in the Philippines, today announces that it secured additional $140 million of financing to continue its growth in the Philippines.
Proceeds from the financing round will fund the scaling of profitable lending (Salmon Credit Line and in-store lending) and nationwide roll-out of new products, including motorcycle and MSME lending.
In less than four years of operations, Salmon has become one of the fastest-growing technology companies in the Philippines, operating through a BSP-licensed bank, Salmon Bank (Rural Bank) and an SEC-licensed financing company, Salmon Finance.
Today, the companies in Salmon Group serve millions of Filipinos through its Salmon app – one of the highest rated financial services apps in the Philippines with 9 million downloads, 4.8 rating on App Store and Google Play, 99.9% uptime, and dedicated 24/7 customer support. Through the AI-powered credit engine of Salmon Finance, the group's financing arm, Salmon is able to serve customers with limited credit history and provide credit decisions within minutes.
"Everyday financial services come with unnecessary friction for many Filipinos. We're removing these barriers and building innovative products with the reliability and security customers expect in today's world," said Pavel Fedorov, co-founder of Salmon. "We are doubling down on the opportunity in the Philippines as we believe deeply in its scale and in the importance of focus to deliver a differentiated execution. This financing lets us do more: extend banking and credit access to more Filipinos, roll out new products, and keep raising the bar for the financial services industry in the country. We are grateful to our existing investors for backing the next stage of our mission."
ABOUT SALMON
Salmon Group is a technology-driven financial services holding company building a banking and lending platform across Southeast Asia, starting with the Philippines. The Group operates a BSP-licensed bank, Salmon Bank (Rural Bank) Inc.; an SEC-licensed financing company, Salmon Finance Inc.; and a growing suite of financial products – all delivered through the Salmon app, a modern money app built for everyday Filipinos. Founded in July 2022 by banking and technology veterans Pavel Fedorov, George Chesakov, and Raffy Montemayor, Salmon is backed by leading US venture investors, IFC (World Bank Group), ADQ/Lunate, Antler as well as prominent Filipino investors. The Salmon app is rated 4.8 in both the App Store and Google Play, one of the highest ratings for a financial services app in the Philippines.
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SALMON SECURES $140 MILLION (PHP 8.8 BILLION) TO DOUBLE DOWN ON THE GROWTH OPPORTUNITY IN THE PHILIPPINES
BALI, Indonesia, Oct. 19, 2026 /PRNewswire/ -- The Internet Corporation for Assigned Names and Numbers (ICANN) convenes its 2026 Annual General Meeting (AGM) in Bali from 17-22 October, bringing the global Internet community together to advance work on Internet security, Domain Name System (DNS) expansion, and global cooperation.
Co-hosted by the Indonesian Internet Domain Name Registry (PANDI), with support from Indonesia's Ministry of Communication and Digital Affairs and the Bali Provincial Government, ICANN87 marks the first ICANN public meeting in Indonesia. The meeting brings together government representatives, businesses, technical experts, and civil society to address issues affecting the Internet's security, stability, and global interoperability.
The Welcome Ceremony on 19 October featured remarks from Meutya Hafid, Indonesia's Minister of Communication and Digital Affairs; Isnawan Aslam, President of PANDI; Tripti Sinha, ICANN Board Chair; and Kurtis Lindqvist, ICANN President and CEO.
"As we look toward the next decade, our responsibility is not simply to accommodate the Internet's continued expansion, but to preserve the trust that makes it meaningful. Connectivity enables participation. Growth creates opportunities. And protection builds the trust necessary to sustain both. For Indonesia, the objective is therefore not simply to bring more people online. It is to ensure that they can participate in a digital environment that is accessible, secure, and relevant to their needs," said Meutya Hafid, Indonesia's Ministry of Communication and Digital Affairs.
"Hosting ICANN87 marks an important milestone for Indonesia and reflects PANDI's commitment to the global Internet community. For us, managing .id goes beyond technical responsibilities; it is a commitment to safeguarding our nation's digital identity. We believe trust is earned through a proven track record, consistent performance, and responsible governance. Building on our experience and continuously strengthening our capabilities, PANDI remains committed to strengthening Indonesia's digital identity and ensuring that .id is secure, stable, trusted, and ready for the future of the Internet," said Isnawan Aslam, President of PANDI.
ICANN Board Chair Tripti Sinha highlighted the multistakeholder model of governance and the need to sustain public trust. "The tenth anniversary of the IANA stewardship transition demonstrates how this governance model has endured technological and geopolitical change. We continue to earn trust through transparent governance, sound decisions, and effective implementation," Sinha said.
"We need to strengthen the connection between strategy, prioritization, budgeting, and implementation, making the process clearer and more transparent," said Kurtis Lindqvist, ICANN President and CEO. "The ICANN community develops solutions and the ICANN org must turn those solutions into effective action."
ICANN Recognizes Hartmut Glaser for Capacity Building
During the welcome ceremony, ICANN awarded Hartmut Glaser the 2026 Dr. Tarek Kamel Award for Capacity Building. The ICANN Board recognized his contributions to Internet governance capacity building at local, regional, and global levels, including founding and leading the Brazilian School on Internet Governance and helping establish the Latin American and Caribbean Internet Address Registry (LACNIC). Sinha presented the award to Glaser, who joined remotely.
The award honors the late Dr. Tarek Kamel, an Internet pioneer, and recognizes members of the ICANN community who advance capacity-development programs related to ICANN's mission.
Advancing a Secure, Stable, and Inclusive Internet
ICANN87 features more than 200 working sessions on Internet policy and technical priorities, including DNS Abuse mitigation, strengthening the security, stability, and reliability of the Domain Name System (DNS), and expanding domain name options through the New Generic Top-Level Domains (gTLD) Program.
The six-day meeting advances ICANN's multistakeholder model, which brings diverse groups together to develop policies and coordinate the Internet's unique identifiers. Participants will also take part in capacity-building and leadership development discussions, while new members of the ICANN Board of Directors take their seats.
To learn more and join the conversation, visit www.ICANN.org and the ICANN87 website.
About ICANN
ICANN's mission is to help ensure a stable, secure, and unified global Internet. To reach another person on the Internet, you need to type an address – a name or a number – into your computer or other device. That address must be unique so computers know where to find each other. ICANN helps coordinate and support these unique identifiers across the world. ICANN was formed in 1998 as a nonprofit public benefit corporation with a community of participants from all over the world.
About PANDI
Pengelola Nama Domain Internet Indonesia (PANDI) is the registry operator for Indonesia's country-code top-level domain (ccTLD), .id. PANDI plays a role in developing the .id domain name ecosystem and supporting secure, stable, and trusted Internet governance.
PANDI is an organization whose membership represents various stakeholders, including the government, the Internet industry, and academia. As of 31 December 2025, the number of registered .id domain names had grown to 1,431,960, making .id the largest country-code top-level domain in Southeast Asia.
The .id domain represents Indonesia, Identity, and Ideas. In the governance of .id domain names, PANDI also administers the Domain Name Dispute Resolution Policy (PPND) in accordance with applicable laws and regulations.
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ICANN87 Brings Global Internet Community to Bali
