KKR is to invest USD45 million to lead a Series C funding round in GrowSari, a B2B e-commerce platform serving micro, small and medium-sized enterprises (MSMEs) in the Philippines.
KKR’s investment in GrowSari will support the Company’s expansion into more regions across the Philippines and strengthen its financial services capabilities.
Prior to KKR’s investment, which is being made from its Asia next generation technology strategy, GrowSari had raised funding from global financial and strategic investors, including Temasek-affiliated Pavilion Capital, Tencent, the International Finance Corporation, the Gongkowei family-controlled JG Summit, Robinsons Retail Holdings Inc, Wavemaker Partners, Saison Capital, and the Investment & Capital Corporation of the Philippines.
The ongoing Series C round is significantly oversubscribed, having drawn keen interest from new and existing investors.
The round’s final composition is currently being finalised.