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Great Deals secured US$12 Million from PE Firm Navegar

The Philippine-focused PE Firm Navegar invested in the leading Philippine e-commerce platform Great Deals amounting to US$12 million (P600M).

Great Deals is an e-commerce distributor in the Philippines that caters to multi-national brands. The e-commerce company delivers end-to-end opportunities to reach the fullest potential of the brand’s e-commerce capabilities.

The company announced that it secured new funds from Navegar, a private equity fund that invests exclusively in Philippines companies, totaling to US$12 million or P600 million.

(L-R) Great Deals CEO Steve Sy and Navegar Managing Partner Javier Infante featured image
(L-R) Great Deals CEO Steve Sy and Navegar Managing Partner Javier Infante. Photo from Great Deals (cr: dealstreetsasia.com)

With the mission of providing optimum brand awareness and excellent customer experience by bridging brands and retailers to the online market in the best possible way, Great Deals said that it plans on using the new funds to enhance its IT, infrastructure, warehouse capabilities, and technology solutions.

“We are ecstatic to continue and implementing successful online retail, distribution and marketing strategies for our 250+ brand clients in partnership with Navegar,” said Steve Sy, Founder and CEO of Great Deals.

Founded in 2014, the company has become the no. 1 e-commerce distributor in the Philippines. The company aims to address the needs of the brands in advancing online, desiring to be the Philippines’ version of Alibaba.

“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, “added Steve.

In a report released by Forbes, the Philippines continues to have a very low e-commerce penetration, at less than 2% of domestic product, compared to 40% of China and 25% in the US.

“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 stated.

 

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