Philippine e-commerce startup Great Deals raises $30m

Online retail services provider to San Miguel and Unilever eyes expansion

Great Deals founder and CEO Steve Sy, left, and Fast Group President William Chiongbian II: the Philippine startup has raised $30 million in a fundraising round led by Fast Group. (Photo courtesy of Great Deals)

CLIFF VENZON, Nikkei staff writer

May 19, 2021 18:03 JST

MANILA -- Philippine e-commerce company Great Deals has raised $30 million as the pandemic sparks a boom in the country's digital economy.

The fresh capital will fund the construction of an automated warehouse that can handle a million transactions daily, and lays the groundwork for an overseas expansion that is set to begin in the next few years, Great Deals founder and CEO Steve Sy told Nikkei Asia.