Start-up success: The Philippines emerges
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 potential.
September 27, 2022
Six years ago, when Raymund “ER” Rollan and his founding team started GrowSari, many investors and start-up peers alike would joke about the “Philippines discount”. 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.
GrowSari is a B2B technology platform that digitises the country’s “mom and pop stores” which are known locally as “sari-sari”. 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.
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