Philippine e-commerce enabler Great Deals raises US$12m
Philippine e-commerce enabler Great Deals has raised US$12 million (PHP600 million) from local private equity firm Navegar.
The firm intends to become the Philippines’ answer to Alibaba and Baozun, China’s leading e-commerce enabler. It offers end-to-end services, including digital content, web design, analytics and chat support to warehousing and fulfillment.
The company will use the funds on building its IT, infrastructure, warehouse capabilities and technology solutions.
“We are ecstatic to continue building and implementing successful online retail, distribution and marketing strategies for our 250+ brand clients in partnership with Navegar,” said founder Steve Sy.
“To dominate the market here in the Philippines, we will work closely with Navegar, whose vast experience in building high-growth companies will ensure the continued expansion of our business.
“E-commerce is a sunrise industry in the Philippines, and there are so many opportunities looming on the horizon.”
Great Deals made headlines in 2018 when it dispatched 114,165 orders in one day. The company has since surpassed its own record by facilitating 233,038 orders last year. Its client list includes Reckitt Benckiser, Nestle, Samsonite, Reebok, Crocs, L’Oreal, Abbott and Unilever.
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