OmniRetail Secures $20M to Expand B2B Operations Across West Africa

OmniRetail, a Nigerian B2B commerce platform focused on digitizing the informal retail sector, has raised $20 million in a Series A equity round led by Norfund and Timon Capital, with additional participation from several investors. Despite waning investor enthusiasm in the sector, OmniRetail has distinguished itself by achieving EBITDA profitability in 2023 and net profits in 2024 through an asset-light, efficiency-driven approach that leverages a network of third-party logistics partners and distributed warehousing. The platform supports over 150,000 informal retailers, 145 manufacturers, and 5,800 distributors across Nigeria, Ghana, and Ivory Coast, enabling inventory ordering, embedded credit, and digital payments via its app. Notably, OmniRetail delayed launching its credit products until it had built significant operational scale and robust transaction data, which has allowed it to process over ₦1.3 trillion (~$810 million) in annual transactions and disburse ₦19 billion ($12 million) in monthly BNPL inventory credit. The acquisition of Traction Apps in 2024 has further strengthened its financial services capabilities and retailer insights. The latest investment, which marks Norfund’s first direct equity stake in an African startup, will fuel OmniRetail’s expansion into new product categories, upgrade its credit underwriting tools, and support strategic acquisitions.