Start-up

The Philippines used to be the target of jokes about valuation discounts, but now the market is having the last laugh as investors fight for a piece of its ...

One of the real problems that GrowSari has set out to solve is to create positive socio-economic impact for the MSME owners and communities that it serves. This provides recognition that the economic and cultural significance of sari-sari stores is likely to stay for many decades to come,” Rollan, co-founder and CEO of GrowSari told FA. In April this year, former CFO of Binance, Wei Zhou, became the new CEO of the fintech following his acquisition of the firm from GoJek. In 2018, the number of deals increased to 57 with over $300 million worth of investment pouring into the country. But it is the entertainment content arena that Kickstart’s Navarrete is watching most closely. We think the current market would certainly support such a valuation,” Navarrete said. The fintech start-up is With its fresh Series C capital, GrowSari is accelerating its national expansion by channelling its funds into the Visayas and Mindanao regions. The firm continues its push for financial inclusion in spite of vast share price fluctuations following its stellar quity market debut. Despite this antiquated misperception combined with a start-up ecosystem that was not well-established and a host of other challenges, the team resolutely persisted and founded their company in Manila in 2016. By helping grow their profits, GrowSari helps these store owners attain a more sustainable livelihood, while being able to stay at home and take care of the household,” Paul Santos, managing partner at Wavemaker Partners, an early investor in GrowSari, told FinanceAsia. With over one million sari-saris nationally, which can be found at almost every street corner, Rollan considers them the “best and most efficient” last mile network to the Filipino consumer.