Growsari, a Filipino B2B firm, has announced its expansion into Visayas and Mindanao, with plans to digitally empower an estimated 300,000 small physical stores.
GrowSari is a leading tech-enabled B2B platform that helps small physical retail stores in the Philippines, such as neighborhood retail shops (sari-sari stores), roadside and market shops (carinderia), and pharmacies, improve their service levels and gain access to a wider range of products and value-adding services. This enables the retailers to offer more extensive services to local communities, including digital services.
The business plans to use the USD 77.5 million it raised in its Series C round of funding to increase the number of shop partners who will profit from using its platform in the next two years, reaching 300,000 by 2023.
Iloilo, Bacolod, Cebu, Davao, and General Santos are among the major cities in Growsari’s expansion in Visayas and Mindanao. Growsari presently has a presence in 20 major cities and 400 communities across the country.
Telco credits, money remittance, bill payment, e-commerce, WiFi, and other e-services are among the additional features that Growsari store partners can access through the app.
“Through our platform, store owners have access to new revenue streams which allow them to maximize their capital,” says Growsari chief executive and co-founder Reymund ‘ER’ Rollan. “In addition, we are doubling down on our capabilities to improve the overall customer experience and look to expand our ability to provide access to credit and basic financial services, which is a key pain point for MSMEs who have limited access.”