NextBillion - An Initiative of the William Davidson Institute at the University of Michigan

By Chimgozirim Nwokoma

Nigeria-based Business to Business (B2B) eCommerce startup, Omnibiz has announced securing $3million in a seed round. It plans to expand into other cities in West Africa and participate in Seed Stars’ accelerator program.

Led by V&R Africa, Timon Capital and Tangerine Insurance, this seed round also saw investments from Launch Africa, Sunu Capital, Musha Ventures, Rising Tide Africa, and LoftyInc. Swiss-based emerging markets investment company, Seed Stars also joined the round.

Founded by Deepankar Rustagi — CEO — in 2019, Omnibiz connects manufacturers of fast-moving consumer goods (FMCG) with local retailers using a mobile app, WhatsApp and a phone number.

Photo courtesy of Global Devlab.