PH-based B2B Platform GrowSari raises $45M
Business-to-business (B2B) platform GrowSari obtained $45 million from global investment firm KKR in an extended, oversubscribed Series C funding round.
The Philippine-based startup helps micro, small and medium-sized retail stores, neighborhood shops (sari-sari stores), roadside, market eateries, and pharmacies grow and digitize their services.
GrowSari CEO and co-founder Reymund “ER” Rollan said that the additional capital will be used for expanding into more areas — specifically in Visayas and Mindanao — and launching new financial products.
Currently, the online platform has an established presence in 220 municipalities across Luzon. It offers various services to customers including bill payments, telco reloads, wallet-top-ups, retail merchandise, and pharmaceuticals.
KKR Co-Head of Asia Pacific Private Equity and Head of Southeast Asia Ashish Shastry explained that their decision to fund GrowSari is due to its capability to “digitally transform the operations of Filipino MSMEs, who are crucial contributors to the country’s economy and a pillar of the business community.”
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