E-Commerce: Packworks looks to power the pack of Philippine MSMEs


Join the pack. Meet Packworks! This Philippine startup’s here to build a super app to power every sari-sari store’s needs. Now, they’ve just raised a $2M seed.

> “Sari-sari stores” are small roadside neighborhood shops, similar to “warungs” in Indonesia.

Investor check. Logistics group Fast Group and CVC Capital Partners co-led the round. ADB Ventures, Arise, Techstars and Ideaspace Foundation also joined in

🔙 How it started

They started with five stores in 2018 as a solution to connect multinational companies with sari-sari stores.

How it’s going

Now, they’re building tools to help the millions of sari-sari stores earn more. There are many kinds of sari-sari stores and MSMEs, and they’re all at different stages. Packworks gets it!

> Some sell consumer packaged goods and fast-moving consumer goods (milk, baked goods, detergent), agriculture products or meat. Some are even roadside canteens or rice vendors!

So, they’ve built different tools for different sari-sari stores.

> New stores get a beginner-friendly app that guides them, connects them to mentor stores and mini-support groups and allows them to order supplies.
> More successful stores have a full suite of business tools.

🤔 What’s in the Pack?

Inventory made easy. Track real-time stocks, future orders and retail and wholesale prices.

Bookkeep like a boss. Manage all purchases, sales and even credit for customers with unpaid items. Plus, automatically update inventory too.

Data’s in the details. Get a dashboard with a summary of your cashflow, view opportunities and issues based on purchases and understand your customers.

And more! Access financial products, order supplies at lower prices and even get delivery and collections systems.

🔜 Next up

With the $$$, they’ll be developing their super app, offerings and user journey for partners and sari-sari stores. The goal? Hit 500,000 stores by the end of 2023.

They’ll also expand their revenue model from “project billing” to “performance billing” to earn more from the transaction value of their customers.

Source: backscoop.com