Filipino B2B startup Growsari expands to VisMin following a Series C funding worth $77.5-million
Filipino e-commerce startup GrowSari announces its expansion in Visayas and Mindanao to serve and digitally empower small physical stores like sari-sari stores, carinderias, eateries, pharmacies, and other roadside shops, across the country.
“We are proud to share that we are on track in fulfilling our mission of creating a positive socio-economic impact to the lives of more MSME owners and the communities they serve nationwide,” said Growsari CEO and co-founder Reymund ‘ER’ Rollan.
The announcement comes after the tech-enabled B2B platform secured $77.5 million in Series C funding, which raised its total funding to around $110 million.
With fresh funds along with its plan to reach potential store partners in Visayas and Mindanao, GrowSari will not only expand its nationwide footprint but also improve the way it helps in the digital transformation of small physical stores in the country as it will allow more stores to benefit from its services like free delivery and access to more FMCG items, and other e-services like Bills Pay, Loading, and Cash-in.
“As we get farther out into the provinces, a lot of sari-sari store owners are underserved given the challenges to physically reach them. Digital inclusion in these areas has also been slower. So we see this as a huge opportunity where GrowSari can come in to make a difference in the lives of small physical retail store owners,” shares Rollan.
“Through our platform, store owners have access to new revenue streams which allow them to maximize their capital,” Rollan also said in a statement. “In addition, we are doubling down on our capabilities to improve the overall customer experience and look to expand our ability to provide access to credit and basic financial services, which is a key pain point for MSMEs who have limited access.”
GrowSari currently serves over 100,000 small retail stores in 220 municipalities across Luzon, a major jump from a base of 1,000 stores in three cities that it reported in 2018. It now plans to increase the number of its store partners to 300,000 by early next year.
Growsari’s expansion in Visayas and Mindanao includes key cities such as Iloilo, Bacolod, Cebu, Davao, and General Santos.
Sources:
PH MSME enabler GrowSari secures fresh funding for nat'l expansion - MARKETECH APAC
