OmniRetail secures $20 million in Series A funding to expand its innovative B2B commerce platform for informal retail across West Africa.
Target Company Overview
OmniRetail, founded in 2019 by Deepankar Rustagi, is a forward-thinking B2B commerce platform focused on transforming the landscape of informal retail in Nigeria and West Africa. The company leverages technology and embedded finance to address the challenges faced by retailers in the fast-moving consumer goods (FMCG) sector.
With a robust operational model, OmniRetail digitizes order management for 145 manufacturers, servicing over 5,800 distributors and more than 150,000 informal retailers across 12 cities in Nigeria, Ghana, and Ivory Coast. The platform enables retailers to order inventory, access working capital, and make digital payments, all supported by a comprehensive logistics network comprising over 1,100 vehicles and 85 local logistics partners.
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Industry Overview in Nigeria
The FMCG sector in Nigeria is a significant contributor to the nation's economy, with a rapidly growing consumer base and increasing urbanization driving demand for various products. However, the industry has faced challenges including supply
Similar Deals
Norfund
invested in
OmniRetail
in 2022
in a Series A deal
Disclosed details
Transaction Size: $20M