OmniRetail raises $20M Series A to scale Africa’s informal retail infrastructure
- OmniRetail secured $20 million in Series A funding to expand across Nigeria, Ghana, and Côte d’Ivoire.
- The funding round was co-led by Norfund and Timon Capital, with participation from several other investors.
- The startup has raised a total of $38 million in equity and debt since its founding in 2019.
OmniRetail's innovative approach to integrating financial services within its logistics framework represents a significant advancement in the B2B e-commerce landscape in Africa. This model not only addresses the challenges faced by informal retailers but also sets a precedent for future startups aiming to navigate the complexities of the African market. The focus on profitability and efficiency over hypergrowth is a refreshing strategy that could lead to sustainable growth in the sector.
