Great Deals Raises $30M Series B Funding - Philippine E-commerce

Great Deals Secures $30 Million Series B Funding

Established in 2014, Great Deals functions as an e-commerce enabler, assisting prominent brands such as Abbot, L’Oréal, and Unilever in establishing and scaling their online retail presence within the Philippines.

The company has recently announced the successful completion of a $30 million Series B funding round. This investment was spearheaded by Fast Group, a leading logistics company in the Philippines, and further supported by CVC Capital Partners.

Navegar, a previous investor in Great Deals’ Series A round, also participated in this latest funding cycle.

Strategic Partnership with Fast Group

Rocket Equities served as the advisory firm for this transaction. The investment from Fast Group, boasting a fleet exceeding 2,500 vehicles and a distribution network encompassing 90,000 stores, signifies the commencement of a strategic alliance between the two entities.

A portion of the newly acquired capital will be allocated towards the construction of a fully automated fulfillment center. This development is expected to broaden Great Deals’ reach beyond the Greater Manila Area.

Furthermore, the partnership will facilitate the expansion of Instant Commerce capabilities, enabling deliveries within a one-hour timeframe.

Expansion Plans and Regional Growth

Currently, Great Deals’ operations are confined to the Philippines. However, founder and CEO Steve Sy revealed to TechCrunch that the company intends to initiate regional expansion efforts in the coming year.

William Chiongbian II, president and CEO of Fast Group, stated, “Fast Group recognizes substantial synergistic opportunities with Great Deals in enhancing operational capacity.”

He further added, “We are honored to contribute to the advancement of Philippine e-commerce, which is fundamentally dependent on a robust and reliable supply chain infrastructure.”

Comprehensive E-commerce Solutions

Great Deals’ client portfolio includes well-known companies like Nestlé, Samsonite, GSK, Bayer, and Fila. Beyond functioning as an e-commerce distributor, the company delivers a complete suite of services to brands.

• These services encompass digital content creation.
• Marketing campaign coordination and execution.
• Comprehensive management of marketplace listings.

Great Deals collaborates with major e-commerce platforms including Lazada, Shopee, Zalora, Zilingo, Shopify, and Magento.