The Philippines-based Great Deals E-commerce Corp. has raised US$12M (P 600 million) from Navegar, the largest private equity firm in the country.
The e-commerce enabler plans to use the capital to enhance its IT, infrastructure, warehouse capabilities and technology solutions, as it aggressively expands its presence in the country.
Great Deals aims to be the Philippines’s own Alibaba and Baozun, China’s leading e-commerce enabler.
“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 and CEO Steve Sy, who is also an Alibaba eFounder fellow.
“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.”
Great Deals offers end-to-end e-commerce services, handling everything from digital content, web design, analytics and chat support to warehousing and fulfillment.
“E-commerce is a sunrise industry in the Philippines, and there are so many opportunities looming on the horizon. Our mission, in Great Deals, is to uplift Filipino lives through the digital economy, harnessing local technology, human resources and boundless creativity to bring the best we can offer to the Philippines,” Sy added.
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