Nigeria’s OmniRetail raised $20 M Series A funding for West African expansion
OmniRetail, a Nigerian B2B e-commerce startup, has secured US $20 million in Series A funding to support its growth in West Africa.
OmniRetail, a B2B enablement company founded in 2019 by Deepankar Rustagi, offers the digital infrastructure required to address some of the most urgent issues in Africa’s commerce value chain, especially by attending to the needs of informal retailers.
OmniRetail gives retailers the resources and tools they need to buy products, establish and obtain credit, and streamline their operations for increased profitability and scale through its flagship platform, Omnibiz, and cutting-edge tools like OmniPay and Mplify.
With 90 brands onboarded and more than 150,000 small retailers spread across 12 cities, the company is in a strong position to transform the local retail market.
OmniRetail has now announced the closing of its US$20 million Series A round, which began with an undisclosed amount of funding from Goodwell investments in April 2024.
Norfund and Timon Capital co-led the round, which will help the business expand in Ghana, Ivory Coast, and Nigeria. Additionally, it will strengthen its logistics infrastructure and embedded finance products.
Flour Mills, a Nigerian food company, Aruwa Capital, and Ventures Platform were among the other investors.
