OmniRetail, a Lagos, Nigeria-based provider of a B2B e-commerce platform digitising sub-Saharan Africa’s informal supply chain, received an investment from Goodwell Investment.
The amount of the deal was not disclosed. Working in collaboration with long-term partner Alitheia Capital, Goodwell invested via its uMunthu II fund, effectively starting OmniRetail’s Series A funding round.
The company intends to use the funds to expand operations and its development efforts.
Founded in 2019, OmniRetail provides the necessary digital infrastructure to tackle some of the most pressing challenges within Africa’s commerce value chain, particularly by addressing the needs of informal retailers. This group constitutes the backbone of commerce across sub-Saharan Africa, contributing significantly to the region’s GDP and providing livelihoods to millions of individuals.
Through its flagship platform, Omnibiz, and innovative tools like OmniPay and Mplify, OmniRetail equips retailers with essential resources and tools to procure products, build and access credit, and optimize their business for higher profitability and scale. It has already onboarded over 140,000 small retailers and 90 brands.
FinSMEs
17/04/2024