KKR Invests $45M in Growsari, Filipino MSME B2B Platform

GrowSari Secures $45 Million Investment Led by KKR

GrowSari, a startup headquartered in Manila focused on the digitization and growth of small retailers, has announced a $45 million investment led by KKR in its Series C funding round.

These newly acquired funds are earmarked for expansion into previously untapped regions within the Philippines and for the development of enhanced financial product offerings.

The Series C round is currently ongoing and has already surpassed its initial target, with the final investor composition presently being determined.

Previous Funding and Growth

Prior to this Series C round, GrowSari had successfully raised a total of $30 million in funding. TechCrunch previously reported on GrowSari’s Series B announcement in June 2021.

Since then, the company has significantly broadened its operational reach, increasing the number of municipalities served from 100 to 220.

Currently, GrowSari boasts a customer base of 100,000 micro, small, and medium-sized enterprise (MSME) store owners.

GrowSari’s Comprehensive B2B Platform

Established in 2016, GrowSari operates as a B2B platform designed to cater to the diverse needs of small- to medium-sized retailers.

This includes neighborhood stores, commonly known as sari-saris, roadside vendors, market stalls, and pharmacies.

Services and Partnerships

The platform features a wholesale marketplace offering products from leading fast-moving consumer goods (FMCG) brands such as Unilever, P&G, and Nestlé.

GrowSari has established partnerships with over 200 providers, encompassing telecommunications companies, fintech firms, and subscription services.

These collaborations enable sari-sari stores to provide services like mobile top-ups and bill payment options to their customers.

Financial Solutions for Retailers

Sari-sari operators can leverage GrowSari to establish online storefronts and gain access to short-term working capital loans for inventory purchases.

Additional financial products include digital wallets and cash-in services, with plans to introduce remittance, insurance, and loan options through strategic partnerships.

Expansion Plans

The recent funding will facilitate expansion into the Visayas and Mindanao regions, representing the remaining major geographical areas within the Philippines.

GrowSari’s ultimate goal is to serve all 1.1 million “mom and pop” stores across the nation.