OmniRetail
Overview
OmniRetail is a leading B2B e-commerce platform focused on digitizing the traditional consumer goods distribution sector in Africa. Based in Lagos, Nigeria, OmniRetail was founded in 2019 by Deepankar Rustagi. The company specializes in providing digital infrastructure that connects manufacturers, distributors, and retailers, offering solutions like order management, embedded finance, and logistics support. As of April 2025, OmniRetail has raised approximately $38 million in equity and debt financing from various investors including Norfund, Timon Capital, Ventures Platform, Aruwa Capital, and others. It has become a key player in the African consumer goods sector by leveraging technology to enhance operational efficiency and financial transactions for its clients across Nigeria, Ghana, and Ivory Coast.
Recent Developments
- April 28, 2025: OmniRetail raised $20 million in Series A funding to expand its operations and reinforce its presence in West Africa, specifically in Nigeria, Ghana, and Ivory Coast. The funding round was led by Norfund and Timon Capital, marking Norfund’s first direct equity investment in an African startup. The funds will be used to enhance their product categories and market expansion efforts, with a focus on personal care, home care, and cold storage.
- October 22, 2024: OmniRetail acquired Traction Apps, a payment solutions provider, to bolster its finance services for SMEs within the FMCG sector. This acquisition will allow OmniRetail to integrate Traction’s merchant POS services into its financial solutions, enhancing payment processing and credit access for retailers.
- August 23, 2024: OmniRetail announced plans to expand into Francophone West and Central African markets, including Côte d'Ivoire, Senegal, and Cameroon. This move aims to tap into markets where consumer spending is less pressured by inflation, leveraging OmniRetail's understanding of local market dynamics.
- June 23, 2023: Deepankar Rustagi, the founder of OmniRetail, was selected as an Endeavor Entrepreneur, joining a global network of high-impact entrepreneurs supported by the Endeavor organization to help scale their businesses.
Company Information
| Attribute | Information |
|---|---|
| Founding Date | 2019 |
| Headquarters | Lagos, Nigeria |
| Founders | Deepankar Rustagi |
| Revenue | NA |
| Profits | Became EBITDA positive in 2023, net profitable by 2024 |
| Key Investors | Norfund, Timon Capital, Ventures Platform, Aruwa Capital, Goodwell Investments, Alitheia Capital |
| Industry | E-commerce, Supply Chain, Logistics, Fintech |
| Number of Employees | Approximately 51-200 |
Early History
Founded in 2019, OmniRetail emerged with a vision to digitize the trade value chain in Africa's fast-moving consumer goods (FMCG) sector. The founder, Deepankar Rustagi, leveraged his entrepreneurial experience from previous ventures such as VConnect to address the inefficiencies in the traditional trade system. OmniRetail aimed at transforming the FMCG landscape by connecting manufacturers, distributors, and retailers through technology-driven solutions. Early milestone achievements included becoming the fastest-growing company in Africa by 2024 as recognized by Financial Times, with the company managing a significant volume of transactions through its digital platform.
Company Profile and Achievements
OmniRetail operates as a technology-driven B2B e-commerce platform that enhances the supply chain for consumer goods across Africa. The company's operations include the OmniBiz e-commerce platform, the Mplify distribution management solution, and the OmniPay embedded finance service. Their business model integrates order management, digital payments, and working capital solutions, which have revolutionized the traditional retail and distribution landscape across Africa.
- 2019: Founded and began operations, focusing on improving distribution processes and digitizing trade value chains.
- 2020-2022: Rapid expansion and product development, including the launch of OmniPay, which offered new financial solutions such as credit scoring based on transaction data.
- 2023: Achieved EBITDA positive status, signaling effective management of its asset-light strategy.
- 2024: Acquisition of Traction Apps, enhancing OmniRetail’s capabilities in providing financial services to SMEs.
- 2025: Series A funding raised $20 million to support further expansion and innovation in product offerings.
Current Operations and Market Position
As of 2025, OmniRetail maintains a strong market position in the African B2B e-commerce sector, significantly impacting the informal retail space through their digital solutions. The company's technology facilitates the operation of over 145 manufacturers, 5,800 distributors, and services more than 150,000 informal retailers across 12 cities in three major African countries. Their strategic approach combines technology with local insights, providing a unique advantage in the market. OmniRetail remains focused on scaling up its operations through geographic expansion and deepening its market penetration in existing territories.
Conclusion
OmniRetail stands as a transformative entity in Africa's B2B e-commerce and FMCG sectors, leveraging technology to eliminate inefficiencies and enhance the supply and distribution of consumer goods. With continued innovations and strategic expansions, OmniRetail is well-positioned to drive substantial growth and impact across the continent. As Africa's fastest-growing company recognized in 2024, OmniRetail's trajectory signals a future with promising opportunities to further digitize and optimize traditional trade in Africa.