Fintech firm Packworks appoints ex-CEO of Lazada PH to board of advisors

Ray Alimurung / Photo credit: Packworks

Philippine fintech startup Packworks has appointed Ray Alimurung, a former chairperson and CEO of Lazada Philippines, to its board of advisors.

Packworks provides a B2B open platform to sari-sari stores, which are neighborhood retail shops that sell various goods. The platform gives them access to business tools, financial products, and fast-moving consumer goods (FMCG) companies.

Alimurung has worked as a product and vendor manager at Amazon as well as a CEO of aCommerce Philippines. He was also the first Filipino CEO of Lazada Philippines, serving in the position from 2018 to 2022.

In addition to his upcoming role at Packworks, Alimurung is currently a general partner at Kaya Founders, an early-stage investment firm.

Packworks started in 2018 as a solution for multinational companies in the country with only a few sari-sari store partners. It raised US$2 million in seed funding in August 2022 and now serves over 200,000 sari-sari stalls across the Philippines.

Sari-sari stores account for 60% of all FMCG sales in the archipelago.

Another startup catering to these shops is GrowSari, whose platform lets them order inventory and acquire working capital loans, among other services. Last year, the company raised US$32.5 million in a KKR-led round, which also saw participation from Temasek Group.

See also: What’s driving the revival of Southeast Asia’s B2B ecommerce