NextBillion - An Initiative of the William Davidson Institute at the University of Michigan

Philippine e-commerce enabler, Great Deals E-Commerce Corporation, has raised US$30 million in Series B funding round, led by local logistics major Fast Group.

The round was joined by private equity firm CVC Capital Partners, besides existing investor Navegar.

This round comes almost a year and half after Great Deals secured US$12 million Series A from Navegar in January 2020.

Great Deals will deploy the fresh capital in tech development and the construction of an automated “state-of-the-art fulfilment centre”.