MANILA - Philippine e-commerce startup GrowSari said on Monday it raised $77.5 million as part of its Series C funding, bringing the company’s total funding to around $110 million.

GrowSari, which provides e-commerce services to sari-sari stores, carinderias and other MSMEs, said it plans to use the funds for expansion.

“From a base of 1,000 sari-sari stores in three cities back in 2018, Growsari has grown to service more than 100,000 stores in over 220 municipalities across Luzon,” the company said.

Growsari said it has also expanded to the Visayas over the last 12 months and will soon also be in Mindanao. It will also begin offering financial services and logistics, it said.

“We are very grateful for the confidence shown by existing and new investors as we try to transform the MSME space in the Philippines. Not only will this funding allow us to fuel our growth, but this will also help us bring top global quality talent in Operations, Technology, and Data Science into the startup ecosystem of the Philippines,” said GrowSari CEO and co-founder Reymund Rollan.

Among the investors that joined the new round of funding were the Word Bank’s International Finance Corporation (IFC), KKR, which led the Series C round, and Pavilion Capital of the Temasek Group.

The startup said it is also in talks for the next round of funding.

• Growsari drives growth of sari-sari stores by streamlining supply chain process
• KKR invests $45 million in local tech startup GrowSari

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