Norfund and Timon Capital leads OmniRetail fundraise
OmniRetail, a consumer goods distribution platform, has raised $20 million in Series A equity, led by Norfund and Timon Capital.
** For the best experience, download the free Africa Private Equity News app Android | iOS **
OmniRetail, a consumer goods distribution platform, has raised $20 million in Series A equity, led by Norfund and Timon Capital, with participation from Ventures Platform, Aruwa Capital Management, Goodwell Investments (via the uMunthu Fund managed by Alitheia Capital), and Flour Mills of Nigeria.
"This funding marks a major milestone – Norfund’s first direct fintech investment in Africa – and reinforces the global confidence in our mission to reshape informal retail through technology and embedded finance. At OmniRetail, we have built a digitally integrated ‘network of networks’ connecting over 150,000 retailers across Nigeria, Ghana, and Côte d’Ivoire. We provide seamless access to inventory, logistics, and working capital, enabling small businesses to thrive,” the company said in a statement.
The company achieved EBITDA profitability in 2023 and net profitability in 2024.
"Our embedded finance arm, OmniPay, processed over ₦1.3 trillion (about $811.5 million) in transactions in 2024. Our BNPL (buy now, pay later) product now disburses over ₦19 billion ($11.9 million) monthly with near-zero defaults, a testament to our deep integration with merchants and our commitment to responsible financial inclusion," the company added.
Stay ahead in Africa's private equity and venture capital sector with Africa Private Equity News’ monthly Dealmaker’s Log – a database of reported investment deals, exits, and fundraising closes. Subscribe here