Ordered your groceries yet? Here's SariSuki, a Philippine social commerce and group-buying startup. Founded in May 2021, they've just announced that they've just raised $7.1M!
Who cashed in? Openspace Ventures, Susquehanna International Group (SIG), Global Founders Capital (GFC), Saison Capital, JG Digital and Foxmont Capital.
🥬 Gettin' it fresh
Sarisuki sources its products through bulk-buying from local farmers and direct partnerships with brands like Nestlé, Unilever, and P&G.
How does it get to us? It has an agent model, where "community leaders" sell and distribute groceries in their communities. This lets Sarisuki easily fulfill orders while community leaders earn extra $$$.
And for customers like us, we get to order supermarket-quality groceries online at low prices. Plus, we get to support local farmers!
Why it matters. While it seems like everyone's hopping on e-commerce, only around 3% of grocery businesses in the Philippines are operating online.
🏃🏻♂️ Now, that was quick
It has also launched Supah, a quick commerce app that promises deliveries for groceries and daily needs in just 15 minutes.
And the new cash? It's to increase their product assortment, open dark stores and expand across the Philippines
Zooming out. This isn't the first social commerce startup in the Philippines. Resellee (which seems to have shut down) announced a $1M seed in 2020, but it seems like the founders have launched a new social commerce startup called KITA.
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