by OmniRetail, a leading B2B e-commerce platform, has secured $20 million in Series A equity funding, marking a pivotal moment for both the company and the broader West African tech ecosystem.
This fresh capital injection will supercharge OmniRetail’s ambitious plans to expand across Nigeria, Ghana, and Ivory Coast, while deepening its suite of embedded finance products designed to empower small businesses.
Series A Equity Funding: Backed by Global and Local Giants
The Series A equity funding round was co-led by Norway’s Norfund and Lagos-based Timon Capital, with strong participation from Ventures Platform, Aruwa Capital, Goodwell Investments (via Alitheia Capital), and Flour Mills of Nigeria.
Notably, this is Norfund’s first direct equity investment in an African startup, underscoring OmniRetail’s unique position in the market. With this latest round, OmniRetail’s total capital raised since its 2019 launch now stands at $38 million in equity and debt.
Also read: Top Fintech Companies in Africa
Why the Series A Equity Funding Matters
This Series A equity funding is more than just a financial milestone. It signals renewed investor confidence in Africa’s B2B commerce sector, which has faced challenges in recent years as many business models struggled to achieve profitability. OmniRetail’s ability to attract such high-profile investors highlights its scalable, tech-driven approach to reshaping informal retail and supply chains across West Africa.
“Embedded finance is one of the most transformative tools for small business growth in Africa,” said Norfund Investor Director Cathrine Conradi.
“OmniRetail’s model brings capital to areas where traditional systems haven’t reached.”
Also read: Nigeria’s Tech Revolution: Leading the Way in African Startups
OmniRetail’s Vision: Transforming B2B Commerce in Nigeria and Beyond
OmniRetail is not just another B2B commerce platform. Led by founder Deepankar Rustagi, the company leverages technology and embedded finance to streamline procurement, payments, and credit for small retailers.
This approach addresses long-standing supply chain and operational challenges in Nigeria’s fast-moving consumer goods (FMCG) sector, where informal retail dominates.
With the new Series A equity funding, OmniRetail plans to:
- Expand its distribution network in Nigeria, Ghana, and Ivory Coast
- Deepen its embedded finance offerings, including credit and payment solutions
- Invest in technology to enhance operational efficiency and customer experience
Related news: African Tech Funding Declines 5% in Q1 2025, Reaching $460 Million
Looking Ahead: OmniRetail’s Role in West Africa’s Digital Future
With its $20 million Series A equity funding, OmniRetail is poised to play a leading role in West Africa’s digital transformation. By bringing embedded finance and technology to the region’s informal retail sector, the company is not only driving growth for itself but also unlocking new opportunities for thousands of small businesses.
As investor confidence returns and the tech ecosystem matures, OmniRetail’s success could serve as a blueprint for other startups aiming to scale profitably in Africa’s dynamic B2B commerce landscape.
OmniRetail’s $20 million Series A equity funding is a significant milestone for West African tech. It reflects renewed investor optimism, the growing importance of B2B commerce, and the region’s potential to lead Africa’s next wave of digital innovation.
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