B2B e-commerce platform GrowSari has raised US$5 million from Oppenheimer Generations, according to regulatory filings accessed by DealStreetAsia.
The family office of former De Beers chairman Nicky Oppenheimer invested through Kaishi Ventures, a Singapore-based entity majority-owned by Oppenheimer Generations.
Founded in 2016 by Reymund Rollan, Shivapratim Choudhury, Andrzej Ogonowski, and Siddhartha Kongara, GrowSari offers a digital retail distribution platform that connects informal SME retailers with FMCG manufacturers and wholesalers.
The platform operates in 220 municipalities across Luzon, providing a range of services including bill payments, telco reloads, wallet top-ups, and procurement services for retail goods and medicines.
GrowSari, though registered in Singapore, operates primarily out of the Philippines and is backed by private equity major KKR and Chinese internet giant Tencent.
In 2022, GrowSari raised US$77.5 million in Series C funding to support its national expansion.
This round was led by KKR and included investments from the International Finance Corporation and Pavilion Capital, part of Singapore’s Temasek Group.
Earlier in June 2021, GrowSari secured over US$30 million in funding across two rounds.
Its investor base includes Robinson Retail Holdings, JG Digital Equity Ventures, and Wavemaker Partners.
Featured image credit: Edited from Freepik
