Philippinian consumer finance app, Salmon, has raised $60 million in equity and $40 million in debt to bring digital banking to underbanked Filipinos. The company, founded by Pavel Fedorov, George Chesakov, and Raffy Montemayor, acquired a rural bank established in 1963 to secure its banking license and is currently developing a full suite of financial products, including revolving credit lines, installment loans, cash loans, motorbike loans, and deposits. Salmon's credit product offers up to a 62-day grace period, making it interest-free for borrowers who pay on time, and its subsidiary, Salmon Bank, offers term deposits at up to 8% interest. With the new capital, Salmon plans to focus on scaling its business and building new products.