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
The Africa Mobile Summit will deliver a cross-sectional view of new technologies, solutions and opportunities across the African mobile and digital landscape, with tech corporates, telecoms operators, OEM’s, regulators, mobile industry leaders, innovators and corporates.