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Miguel Cordon · · 1 min readTencent, Pavilion join series B round of Philippine B2B ecommerce platform
GrowSari, a business-to-business ecommerce platform based in the Philippines for small neighborhood shops called sari-sari stores, has closed its series B round to push its total funding raised to more than US$30 million to date.
More funding details
- Returning investors: Robinsons Retail Holdings, JG Digital Equity Ventures, and Wavemaker Partners
- Other investors: Tencent, Pavilion Capital, International Finance Corporation, ICCP SBI Venture Partners, and Saison Capital
- Stage: Series B
More company updates
- GrowSari plans to use the new funds to bankroll its geographical expansion plans, aiming to reach 300,000 stores across the Philippines.
- The company said that in 2020, it served more than 50,000 stores in over 100 municipalities across Luzon, the country’s largest and most populous island.
- GrowSari is also looking to expand its supplier marketplace with new third-party partners and scale its financial services pilots, said co-founder ER Rollan. This includes microfinancing assistance and support for remittance, telco top-ups, and bill payments.
- The startup last raised funding in 2018, banking US$14 million in series A funding.
For more coverage of the company, head here. You can also click on the link below to view key details about the company as well as its funding history.
Editing by Collin Furtado and Eileen C. Ang
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