GrowSari is a Manila-based B2B e-commerce platform for micro, small, and medium-sized businesses (“MSMEs”) that was raised US$45m by KKR.
KKR will be leading the Series C funding round with the investment.
This investment will allow the company to expand into new regions in the Philippines, and it will also strengthen its financial services capabilities.
GrowSari was founded in 2016 by Reymund ER Rollan, CEO. It is a tech-enabled platform that assists small retail stores in the Philippines, such as those located near roads and markets ( sari-sari shops), pharmacies and roadside shops ( carinderia). This allows them to improve their service and access a wider variety of products and value-adding options. The stores can offer more services to local communities, including digital ones.
GrowSari has a presence in over 100 different areas of Luzon today. It offers more than 100 services, including bill payment, telco recharges and wallet top-ups.
Before KKR’s investment, the company had previously raised funds from strategic and financial investors such as Temasek-affiliated Pavilion Capital and Tencent, the International Finance Corporation and the Gokongwei family-controlled JG Summit. Robinsons Retail Holdings Inc. and Wavemaker Partners. Saison Capital and the Investment & Capital Corporation of the Philippines.