Nigerian retail-tech startup OmniRetail raised undisclosed Series A funding from Goodwell Investments

With an undisclosed sum of money from Goodwell Investments, Nigerian retail technology startup OmniRetail has launched its most recent round of fundraising.

Having been established in 2019, OmniRetail is a B2B enablement firm that offers the digital infrastructure required to address some of the most critical issues facing Africa’s commerce value chain, especially by attending to the requirements of unofficial retailers.

OmniRetail provides retailers with the tools and resources they need to build and access credit, acquire products, and optimize their businesses for greater profitability and scale through its flagship platform, Omnibiz, and cutting-edge tools like OmniPay and Mplify. The company is poised to revolutionize the retail sector in the region, having on board over 140,000 small retailers and 90 brands.

Now, it has obtained funding from impact investor Goodwell Investments, which focuses on cutting-edge companies in developing economies. Working together with longtime partner Alitheia Capital, Goodwell made an investment through its uMunthu II fund, thereby initiating OmniRetail’s Series A funding round.

“Africa deserves a robust digital infrastructure layered on top of the existing informal retail – the impact of which cannot be overstated. As the largest employer and the only ecosystem that can truly ensure efficient distribution of essential goods, healthcare, and financial inclusion – informal retail plays a very important role in the economies we want to transform,” said Archit Bagaria, head of investments at OmniRetail.

“With support from Goodwell, one of the top impact funds focused on the continent, we are just getting started on our journey of a true digital infrastructure play that will impact and transform retail in Africa.”