Growsari successfully closes Series B Funding with US$30+M
Photo (L-R): Siddhartha Kongara, GrowSari Co-Founder and CTO; ER Rollan, GrowSari Co-Founder and CEO; Lance Gokongwei, RRHI Chairman; and Robina Gokongwei-Pe, RRHI President and CEO, during the Series A signing agreement in September 2018
We would like to congratulate Growsari Founders Erwin ER Rollan, Shiv Choudhury, Siddhartha Kongara and Andrzej Ogonowski and their team for closing their Series B raise with US$30+ million in total funding from global marquee investors like Tencent, Pavilion Capital and IFC among others.
RRHI led the online platform’s Series A in 2018, along with JG Digital Equity Ventures, and Wavemaker Partners LLC. We continue to support them by participating in this round of funding as well.
GrowSari is a B2B E-commerce leader in the Philippines. Using technology as an enabler for inclusive growth, it provides stock replenishment delivery services to 50K sari-sari stores (Filipino neighborhood stores) via its mobile platform, partnering with Robinsons Supermarket for product fulfilment. The partnership empowers the small business owners to double their earnings through access to better pricing, better service levels, financing, and new products and services.
The Series B funding will allow GrowSari to fuel its geographic expansion to 300,000 sari-sari stores across the country, create a larger supplier marketplace, and provide more financial service offerings.