Transaction Summary
OmniRetail Inc. (OmniRetail), a Lagos-based B2B e-commerce startup founded in 2019, announced it had raised $20 million in a Series A equity funding round. The company connects manufacturers and distributors with informal retailers through a digital platform that provides logistics, inventory management, and embedded financial services, including its “Buy-Now-Pay-Later” credit offering via the Omnipay platform. The round was co-led by Norfund, marking its first direct equity investment in an African tech startup, and Timon Capital. Other participants included Ventures Platform and Aruwa Capital, as well as Goodwell Investments and Flour Mills of Nigeria. Goodwell’s investment came via the uMunthu II fund, which is co-managed with Alitheia Capital and oodwell’s investment came via the uMunthu II fund, which is co-managed with Alitheia Capital and was launched in 2022 to support gender-inclusive, early and growth-stage small and medium-sized enterprises (SMEs) across sub-Saharan Africa. Active in Nigeria, Ghana, and Côte d’Ivoire, OmniRetail will
