Startup online grocery SariSuki raised $7.1 million to grow its business and tap the potential of the e-commerce grocery and retail industry.
The new round of fundraising participated in by Openspace, Susquehanna International Group (SIG), Global Founders Capital (GFC), Saison Capital, JG Digital Equity Ventures and Foxmont Capital Partners brings total funding for the company to $10.7 million in 2021.
The company said since its launch in May 2021, gross merchandise volume grew 36 times and has served more than 60,000 consumers through its growing number of community leaders called KaSari. SariSuki operations extend across Greater Metro Manila Area, Bulacan, Cavite, Laguna and some parts of both Rizal and Pampanga.
SariSuki adopts a Community Group Buy model. Members of communities who set up their business as a Community Leader or KaSari, are able to earn a healthy profit from directly selling produce and goods while performing the last mile fulfillment.
