Salmon Announces $25M Series A-1 Financing
Gunderson Dettmer represented client Salmon, a Philippine-based fintech company with digital banking capabilities, in its $25 million Series A-1 financing led by the International Finance Corporation (IFC), a member of the World Bank Group. Northstar Group also participated in the round. The new capital will be used for developing new credit products and a lifestyle banking offering.
In the announcement of the transaction, Salmon co-founder Raffy Montemayor said, “We are excited to welcome IFC and Northstar as our partners. IFC is one of the largest venture capital investors in emerging markets, and we share IFC’s commitment to leveraging disruptive technology to boost access to banking among the underserved.”
The Gunderson Dettmer deal team was led by David He and included Benjamin Teo and Kinnari Sahita.
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