In a recent accolade, Packworks, the game-changing B2B platform serving sari-sari stores, clinched a spot on Forbes Asia’s 100 to Watch List of 2023. This prestigious list casts a spotlight on companies applying innovative technologies to underserved markets. Amid over 550 contenders from across the Asia-Pacific region, Packworks stood out, meeting Forbes’ stringent criteria including revenue and funding caps.
The brainchild of Tan, Bernardo, and Yap, Packworks emerged in 2018. Initially, the trio was engrossed in delivering solar panels on motorbikes, an endeavor that exposed them to the challenges faced by sari-sari store owners. Motivated to address these struggles, they spearheaded the creation of a comprehensive app tailored for these small businesses.
Rapidly escalating from serving a few multinational partners to now aiding 270,000+ sari-sari stores across the Philippines, Packworks’ growth is noteworthy. A striking 75% of these stores are helmed by women, and Packworks is firmly committed to bolstering these female entrepreneurs.
Last year was particularly monumental for Packworks. They not only raised a substantial US$2 million seed fund backed by eminent names like ADB Ventures and Techstars but also unfurled their mobile ERP platform. The Sari.PH Pro app, one of their notable innovations, grants sari-sari store owners access to tools ranging from inventory management to working capital loans. Further enhancing their technological repertoire, Packworks unveiled Sari IQ, a pioneering business intelligence tool harnessing data analytics to refine consumer insights.
In another feather in their cap, Packworks clinched victory at Ignite 2022’s Startup World Cup. This win propels them to represent the Philippines at the 2023 Startup World Cup in Silicon Valley.
As they bask in the recognition, CEO Bing Tan doesn’t forget the community: “To every sari-sari store owner and our dedicated team, this recognition is as much yours as ours.”