OmniRetail Secures $20M to Cement Its Position in West Africa’s B2B E-Commerce Race

Nigerian-born B2B e-commerce company OmniRetail has raised $20 million in Series A funding to accelerate its expansion across West Africa. Co-led by impact investor Norfund and venture firm Timon Capital, the round also attracted participation from Ventures Platform, Aruwa Capital, Goodwell Investments, and Flour Mills of Nigeria.

Founded in 2019 by Deepankar Rustagi, OmniRetail serves more than 150,000 informal retailers across 12 Nigerian cities. Its digital platform simplifies inventory procurement, financing, and payments for retailers while enabling manufacturers and distributors to streamline supply chains. The company has also built a formidable logistics backbone of over 1,100 vehicles and 85 local partners—an infrastructure it plans to expand significantly.

With this latest funding, OmniRetail’s total capital raised now stands at $38 million in equity and debt. The company aims to enhance its embedded finance offerings and solidify operations in Nigeria, Ghana, and Ivory Coast. It also seeks to widen its technology stack, support underserved retailers, and close supply chain gaps in West Africa’s fragmented retail landscape.

“Small retailers are the beating heart of Africa’s consumer economy,” said Rustagi. “Our mission is to empower them with tools that enable growth, resilience, and competitiveness in a rapidly digitalising world.”

OmniRetail’s move intensifies competition within Africa’s $1 trillion informal retail market. Industry players like TradeDepot—which raised $110 million in 2021—and Wasoko, with $125 million in Series B funding, are similarly racing to dominate logistics and fintech solutions for micro-retailers.

As digital transformation sweeps through African commerce, OmniRetail’s blend of embedded finance and localized logistics could become a winning formula—bridging the gap between manufacturers and Africa’s often-overlooked last-mile retail sector.