Omnibiz Africa the B2B Ecommerce platform headquartered in Lagos, Nigeria raised $3 million in a seed round led by V&R Africa, Timon Capital and Tangerine Insurance.
The round that took Omnibiz’s total raise to $4 million also included the participation of leading African investors including Lofty Inc, Musha Ventures, Sunu Capital, Launch Africa, Ventures Platform and Rising Tide Africa. In addition to this the company also received funding from Seedstars and will be participating in the Seedstars Growth Program.
Founded in June 2019 by Deepankar Rustagi, the B2B FMCG E-commerce company has continued to grow by digitizing the retail space in Africa. Retailers can stock their shops using the company’s mobile app, WhatsApp channel or a dedicated care number at their convenience and have goods delivered to their doorstep at zero delivery costs.
Omnibiz Africa has had a steep growth 25% month on month over the last year, Rastagi comments “Omnibiz Africa has grown at a commendable rate since inception. We have strengthened our relationship with Manufacturers and distributors of FMCGs to provide ease and convenience for retailers. Our execution and tech- enabled solution sets us apart from similar companies within the sector.”
The funding will be used to expand Omnibiz Africa over the coming months in ten West African cities including Lagos, Ibadan, Abuja, Kano, Port Harcourt, Abidjan, Takoradi, Kumasi and Accra.
Other than expansion, investment will be made in new tech product to enhance the value for the retailers. They will work with partners to increase the working capital availability for the retailers as well as digital tools to manage their business more efficiently.
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.