The sari store owner uses GrowSari.
KKR will lead its Series C round with a $45 million investment in GrowSari. The funds will be used to enter new regions in the Philippines. The final composition of the Series C round is currently being finalized, and the startup says it is already oversubscribed.
GrowSari raised $30 million before its Series C. When it announced its Series B in June 2021, GrowSari expanded its customer base from 100 to 220 and now has 100,000 users.
GrowSari, a B2B platform for small stores in the Philippines, adds investors like Temasek’s Pavilion Capital and Tencent
GrowSari is a B2B platform that offers almost every kind of service that small- to medium-sized retailers, including neighborhood stores that carry daily necessities, need.
It has a wholesale marketplace with products from major fast- moving consumer goods brands. sari-saris can offer services like top-ups and bill payments because it partners with over 200 providers.
GrowSari can be used to launch e-commerce stores and to get short-term working capital loans. The startup's other financial products include digital wallet and cash-in services, as well as looking at adding insurance and loans in partnership with other providers.
The goal is to cover all 1.1 million mom and pop stores in the Philippines with the new funding.
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