PH startup Great Deals E-commerce raises $30m Series B from Fast Group, CVC, Navegar

Steve Sy (left), Founder & CEO of Great Deals E-commerce Corporation and William Chiongbian II, Group President and CEO of Fast Group.

Great Deals E-commerce Corp, a Philippine-based e-commerce enabler founded by Alibaba eFounders fellow Steve Sy, has raised $30 million in its Series B funding round led by local logistics company Fast Group.

The funding round, which followed the startup’s $12-million Series A fundraise in January 2020, also saw participation from private equity major CVC Capital Partners, which holds a 40% stake in Fast Group.

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