KKR, a global investment firm, has invested $45 million to lead in GrowSari, a B2B e-commerce platform, Series C funding round. The investment will support the firm’s expansion across the Philippines and enhance its financial services offerings.
GrowSari is a tech enabled B2B platform assisting small physical stores across the Philippines enhance services levels, product offerings and value-adding services. The firm is offered in 220 municipalities throughout the Luzon region and offers services including bill payments, telco reloads, wallet top-ups, and procurement services.
“We will be accelerating our presence nationally to more municipalities and cities in the Philippines,” commented Reymund Rollan, CEO and co-founder of GrowSar. “Our investments will be focused towards expanding in Visayas and Mindanao this 2022. This will bring us a step closer to our mission of creating a positive socio-economic impact to the lives of more MSME owners and the communities they serve. In addition, we are doubling down on our capabilities to improve the overall customer experience and look to expand our ability to provide sari-sari stores access to credit and basic financial services, which is a key pain point for MSMEs who have limited access.”
Sidley Austin advised KKR on the deal.