OmniRetail Raises $20M to Expand FMCG Distribution Across West Africa

TLDR
- OmniRetail, a Nigerian B2B commerce platform targeting the informal retail sector, has raised $20 million in a Series A equity round
- The round was co-led by Norfund and Timon Capital, with participation from Ventures Platform, Aruwa Capital, Goodwell Investments, and Flour Mills of Nigeria
- OmniRetail plans to expand into new product categories, upgrade credit underwriting tools, and pursue strategic acquisitions
OmniRetail, a Nigerian B2B commerce platform targeting the informal retail sector, has raised $20 million in a Series A equity round to accelerate expansion in Nigeria, Ghana, and Ivory Coast. The round was co-led by Norfund and Timon Capital, with participation from Ventures Platform, Aruwa Capital, Goodwell Investments, and Flour Mills of Nigeria.
Founded in 2019, OmniRetail digitizes supply chain operations for over 150,000 informal retailers, providing inventory management, embedded credit, and digital payments. The company, which became EBITDA positive in 2023 and net profitable in 2024, operates an asset-light model leveraging a network of 1,100 vehicles and 85 logistics partners.
The funding marks Norfund’s first direct equity investment in an African startup. OmniRetail plans to expand into new product categories, upgrade credit underwriting tools, and pursue strategic acquisitions. The company processed ₦1.3 trillion ($810 million) in transactions in 2024, with its BNPL product disbursing ₦19 billion ($12 million) monthly.
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Key Takeaways
OmniRetail’s profitable growth highlights a shift in Africa’s B2B commerce landscape. After years of aggressive expansion fueled by venture capital, startups are now prioritizing margin optimization and embedded finance. OmniRetail’s strategy of building scale before offering credit contrasts with earlier models that issued loans prematurely. By capturing retailer-level sales data through its acquisition of Traction Apps, OmniRetail gains critical insights to tailor financial products and reduce defaults. The informal retail sector represents an estimated 90% of consumer goods transactions in Africa. Platforms that digitize order flows, streamline logistics, and embed finance are well-positioned to dominate this massive but fragmented market. OmniRetail’s model also mirrors successful international players, blending commerce and financial infrastructure.






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