Kindrik Partners advises on GrowSari US$77.5M series C financing
Kindrik Partners is delighted to have advised Filipino e-commerce platform GrowSari on its US$77.5 million series C financing. Investors in this round include the International Finance Corporation, KKR, Wavemaker Partners and the Temasek Group’s Pavilion Capital.
Founded in 2016, GrowSari is a B2B platform that provides support for micro, small, and medium-sized enterprises (MSMEs) in the country. GrowSari began as an ordering platform for sari-sari stores (small, independent convenience stores). Today, the platform provides many different types of MSMEs access to a wide range of digital services, including bill payments, telco reloads, wallet top-ups and procurement of retail goods and medicines.
The funding will allow GrowSari to continue to expand into new store formats, accelerate its national expansion and build its logistics and fulfillment network.
Partner Chris Wilson says:
“Small and medium sized-business play such a key role in the social and economic makeup of the Philippines, with MSMEs accounting for 63 percent of employment in the country. We are extremely pleased to help GrowSari continue to transform the way these companies do business”