Ex-Grab PH boss’ group buying firm nets $10.7m, expands to quick commerce

SariSuki, a Philippine social commerce startup, has raised US$10.7 million in total this year from Openspace Ventures, SIG, and Global Founders Capital, among others.

Photo credit: SariSuki

Established in May 2021 with former Grab Philippines president Brian Cu as one of its co-founders, SariSuki is a community group-buying startup that’s now expanding into quick commerce. It promises deliveries under 15 minutes of groceries and daily needs within its covered areas.

SariSuki aims to tackle the Philippines’ low adoption of ecommerce services in the groceries vertical, which stands at odds with the country’s booming ecommerce industry. The sector as a whole is expected to hit US$26 billion in gross merchandise value by 2025.

To address this gap, the startup operates in an agent-assisted model, servicing its consumers through community leaders. By linking these community leaders directly to consumers, prices are kept low while product quality remains high, the company said.

It plans to use the fresh funds to increase the business’ product assortment and dark warehouses as well as drive geographic expansion. Since its launch, the startup has served over 60,000 consumers with a 100-strong team.

See also: Uncovering Southeast Asia’s hidden Grab and Gojek mafia

SariSuki’s launch follows Cu’s establishment of Byahe, a platform that links operators of public utility jeepneys to creditors, jeepney manufacturers, the government, and commuters. Byahe has secured US$17.5 million in capital commitments as of February 2021.

Other investors in SariSuki’s fundraise include:

• Saison Capital
• JG Digital Equity Ventures
• Foxmont Capital Partners