Growsari Secures US$5M Investment to Empower 1.3M Sari-Sari Stores Across the Philippines

Growsari, a B2B e-commerce platform catering to sari-sari stores across the Philippines, has secured a US$5 million investment from Oppenheimer Generations Asia (OGA). The goal is to empower over 1.3 million neighborhood store owners in the country, and OGA will bring its experience from similar developing markets and a strong track record in sustainable business investments.

The fresh capital will be utilized to support Growsari’s three main business lines while also providing liquidity to its employees and early-stage investors. With the investment, the Filipino startup plans to enhance the operations and profitability of sari-sari stores nationwide.

The Philippines is home to 1.3 million independent entrepreneurs operating small mom-and-pop stores, known locally as sari-sari stores. These stores play a crucial role in their communities, yet many face challenges like inefficient supply chains and limited access to capital, which often stifle their growth potential.

Growsari aims to level the playing field by providing these storeowners with access to technology that can help them increase their earnings. 

Commenting on the investment, Growsari Co-Founder Shiv Choudhury said, “We are excited to partner with the Oppenheimer team. They bring a shared vision of tech-based enablement of micro-entrepreneurs and of the bright future of the Philippines while bringing a new perspective from their experience in other emerging markets.”

Growsari, the largest e-B2B platform in Southeast Asia, empowers over 100,000 neighborhood stores, or sari-sari stores, across the Philippines. 

Launched in 2016 by ER Rollan, Shiv Choudhury, Andrzej Ogonowski, and Siddhartha Kongara, the platform operates three key business lines: B2B e-commerce (SariMart), MSME financial services (SariPay), and last-mile logistics (Tranko). Growsari enables store owners to access affordable FMCG goods with flexible payment options and free delivery while also offering digital services such as prepaid telco load, bill payments, and e-wallet top-ups through the Growsari app.

Since its Series C funding round in 2022, where it raised US$77.5 million, Growsari has doubled its revenue and is now nearing profitability. The company has expanded its reach to over 400 municipalities and has become the largest platform for women entrepreneurs in the region. Growsari’s approach has disrupted traditional business models, making it easier for small store owners to thrive in a competitive market.

To date, Growsari has raised over US$110 million from a diverse group of investors, including Robinsons Retail, JG Summit, KKR, Tencent Holdings, and the International Finance Corporation. 

The platform has gained recognition, winning several prestigious awards, including the Best Brand B2B in Asia E-commerce 2022 and the Trailblazer Award from Alibaba in Singapore. It was also named one of LinkedIn’s Top 10 Startups of 2022 and received accolades for social impact and customer excellence at the KMC Startup Awards in 2023.

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