• GrowSari

  Led · Equity · Aug 2024

  GrowSari operates as a Philippine-based B2B e-commerce platform. The company connects businesses through an online commerce offering tailored to business customers. It is backed by major investors including Chinese internet giant Tencent and private equity firm KKR. According to regulatory filings, GrowSari has raised $5 million from family office Oppenheimer Generations. The articles do not disclose deal terms, instrument type, or operating metrics such as revenue or user counts. No future plans or use of proceeds were detailed in the coverage. GrowSari provides digital tools and financial services to micro, small and medium enterprises, including inventory management, pricing tools, a logistics network and working capital loans. The platform also enables retailers to offer telco top-ups and bill payments. Its customer base includes about 100,000 stores across more than 220 municipalities in Luzon, and the company plans expansion into Mindanao and new store formats. GrowSari is building out a logistics and fulfillment network with plans for more than 50 fulfillment centers and intends to hire for operations, technology and data science teams. The company plans to expand its fintech offerings for store owners and build a supplier marketplace, including commodities, and to serve additional MSME types such as carinderias and small pharmacies. Founded in 2016 and based in Manila, GrowSari has raised capital to support these product, logistics and geographic expansion plans. GrowSari operates a B2B platform that helps sari-sari (neighborhood) stores manage inventory and pricing, access a supplier marketplace and obtain working capital loans and other financial services. The app also supports telecom and utility bill payments and remittances, and offers payment options like cash on delivery, GrowCoins and a seven-day loan product called E-Lista. GrowSari’s supplier marketplace gives stores access to Distributor List Prices from about a thousand FMCG brands, which the company says can help stores improve earnings. The platform is used by more than 50,000 stores across over 100 municipalities on Luzon and the company aims to serve one million sari-sari stores. Financially, GrowSari has raised a total of $30 million to date (including seed and a reported $14M Series A) and is currently in a Series B rolling close. The company plans to use new capital to add 300,000 stores (targeting Visayas and Mindanao), expand its supplier marketplace and launch more financial products for sari-sari stores.

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