GrowSari, a B2B e-commerce platform serving micro, small and medium-sized enterprises (MSMEs) in the Philippines, will receive $45m in Series C funding from global investment firm KKR.
GrowSari said KKR’s investment will support its expansion into more regions across the Philippines and strengthen its financial services capabilities.
The commitment from KKR is part of GrowSari’s ongoing Series C round, which is significantly oversubscribed, having drawn keen interest from new and existing investors. The round’s final composition is currently being finalised.
Founded in 2016, GrowSari is a leading tech-enabled B2B platform that helps the Philippines’ small physical retail stores, including neighbourhood retail shops (sari-sari stores), roadside and market shops (carinderia), and pharmacies, enhance their service levels and access a wider range of products and value-adding services. This allows the stores to provide local communities with more comprehensive offerings, including digital services.
Today, GrowSari is present in 220 municipalities across the regions of Luzon and offers over a hundred types of different services including making bill payments, telco reloads, and wallet top-ups, as well as procurement services for common retail goods and pharmaceutical medicines.
Reymund ‘ER’ Rollan, CEO and co-founder of GrowSari, said, “We will be accelerating our presence nationally to more municipalities and cities in the Philippines. Our investments will be focused towards expanding in Visayas and Mindanao this 2022. This will bring us a step closer to our mission of creating a positive socio-economic impact to the lives of more MSME owners and the communities they serve.”
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