Aditya Hadi Pratama · · 2 min readKKR leads $32.5m additional raise into Philippine B2B ecommerce firm (Updated)
Update (Mar. 29, 4 p.m. SGT): This article was updated after the company clarified that the US$77.5 million amount includes the US$45 million it raised in January this year.
GrowSari, a B2B ecommerce platform based in the Philippines, has raised an additional US$32.5 million as part of its series C fundraise. The round was led by KKR, with participation from the World Bank’s International Finance Corporation, Pavilion Capital, and Temasek Group.
Along with a previous raise announced in January, GrowSari has secured a total of US$77.5 million in series C funding. Since its inception, the company has raised US$110 million, which the startup said is the largest amount in the B2B and SME spaces in the Philippines.
(From left) GrowSari’s top management: Mai Punzalan (CMO), Siddhartha Kongara (CTO), Reymund Rollan (CEO), and Priya Ranganathan (CFO) / Photo credit: Growsari
Established in 2016, GrowSari is a tech-enabled B2B platform that provides small physical retail stores in the Philippines – such as sari-sari or mom and pop stores, carinderias, pharmacies, and other roadside and market shops – with tools to grow and maximize their earnings.
The company was founded by former Procter & Gamble executive Reymund Rollan, along with Shiv Choudhury, Siddhartha Kongara, and Andrzej Ogonowski.
GrowSari has helped more than 100,000 stores in over 220 municipalities across the Philippines’ Luzon island. It has also expanded to the Visayas and aims to launch in Mindanao soon, according to a statement.
See also: What’s driving the revival of Southeast Asia’s B2B ecommerce
Editing by Miguel Cordon and Lorenzo Kyle Subido
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