The Philippines-based online group buying platform Grouping has secured $30 million in a Series B financing round, according to a statement released on Friday.
The round was led by online group-buying firm Groupon and saw the participation of venture capital company a16z.
Grouping plans to use the fresh capital to develop new functional modules within the APP and emerging regional markets.
“We integrate the soul of the Internet into online group buying, which we call group buying 4.0. We have achieved a win-win situation for users, suppliers and platforms in the innovative operation mode,” Grouping co-founder, Phliander, said in the statement.
Launched in October 2022, the company claims to have more than 300,000 active users on its platform.