Timon Capital led a $15 million pre-Series A round for the Nigerian B2B e-commerce platform Omnibiz. The Ventures Platform,
Lofty Inc, Chapel Hill Denham, Chandaria, and Musha Ventures also took part in the round, which was made up of $5M in equity and $10M in debt.
Deepankar Rustagi, the CEO and founder of Omnibiz, says that the company will use the money to focus even more on winning
the loyalty of retail customers and keeping them as customers. Omnibiz was started in 2019 and has quickly become a leading B2B e-commerce platform
It connects retailers in Nigeria and Ghana with more than 200 brands that are shipped by a network of more than 70 logistics partners. Omnibiz doesn't just offer
retailers cheap wholesale prices; it also gives retailers the tools they need to increase their sales and profits. Omnibiz does a
good job, as shown by the fact that more than half of the company's $130 million in gross merchandise volume (GMV) comes
from customers who buy from them again. Every single day, more than 3,000 stores use Omnibiz.
In 2021, the company released the MyStore app, which is a way for retailers to keep track of their customers, inventory, and
BNPL services, as well as do their bookkeeping. Omnibiz's goal is to become the main B2B operating system for retailers.
Paul sorvino, an imposing actor whose roles ranged from the mob boss in "Goodfellas" to an early stint on the long-running cop drama "Law & Order,"