OmniRetail, led by Deepankar Rustagi, has successfully raised $20 million in a Series A funding round aimed at revolutionizing informal retail in West Africa. The funding, supported by prominent investors including Norfund and Timon Capital, will allow the company to enhance its operations in Nigeria, Ghana, and Ivory Coast, focusing on embedded finance solutions. OmniRetail has implemented a technology-driven order management system for over 5,800 distributors and 150,000 informal retailers, ensuring profit growth through an asset-light approach, solidifying its competitive edge in a challenging market.
OmniRetailâs asset-light strategy has been pivotal in achieving profitability, serving 150,000 informal retailers while leveraging 1,100 vehicles and local partnerships for logistics.
The $20 million Series A funding round, co-led by Norwegian development finance institution Norfund, positions OmniRetail to dominate a segment where competitors have struggled.
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