Philippine business-to-business electronic commerce leader GrowSari has closed its Series B Funding with $30-million in total funding from Pavilion Capital, a private equity unit of Temasek, China’s Tencent, which owns messaging app WeChat, World Bank’s International Finance Corp., along with Gokongwei-led Robinsons Retail HoldingsInc., JG Digital Equity Ventures, and Singapore-based Wavemaker Partners.
GrowSari is a tech-enabledplatform that helps Filipino neighborhood stores (sari-sari stores) double their earnings through access to better pricing, better service levels, inclusive financing, and new products and services.
This latest round gives GrowSari funding to fuel its geographic expansion to 300,000stores across the country, create a larger supplier marketplace, and provide more financial service offerings.
Founded in 2016, GrowSari outfits Philippine sari-sari store owners with inventory, infrastructure, and tools to manage and grow their business while generating crucial data and market insights for manufacturers and distributors.
GrowSari has grown from a base of 1,000 sari-sari stores in three cities in 2018 to more than 50,000 stores in over 100 municipalities across Luzon as of 2020.
