Omnibiz has raised a US$3 million seed funding round led by V&R Africa, Timon Capital, and Tangerine Insurance to fuel its growth and expand across Africa.
Founded in June 2019 by Deepankar Rustagi, Nigerian startup Omnibiz allows retailers to place orders at their convenience and have goods delivered to their doorstep with zero delivery cost. Retailers can stock up their shops using the company’s mobile apps, WhatsApp channel, or a dedicated care number.
Including this round, the startup increased its total funding to US$4 million. Previous investors include Lofty Inc, Musha Ventures, Sunu Capital, Launch Africa, Ventures Platform, and Rising Tide Africa. Omnibiz also got funding from Seedstars and will be participating in the Seedstars Growth Programme.
The startup has seen a growth of 25 percent month-on-month over the last year, and over the next few months plans on expanding into further West African cities. Aside from Lagos, Omnibiz also plans operations in Ibadan, Abuja, Kano, Port Harcourt, Abidjan, Takoradi, Kumasi, and Accra, among others. The investment will also be used to develop new tech products to enhance value for the retailer
“Omnibiz Africa has grown at a commendable rate since inception. We have strengthened our relationship with manufacturers and distributors of FMCGs to provide ease and convenience for retailers. Our execution and tech-enabled solution sets us apart from similar companies within the sector,” Rustagi said.Share this via: