OmniRetail Raises $20 Million to Expand Across West Africa

Beulah Godfrey

April 29, 2025
2 min read

Nigerian startup OmniRetail has raised $20 million in Series A funding to grow its business across West Africa. The company helps small, informal retailers improve how they buy and sell goods by using digital tools.

With this new funding, OmniRetail plans to expand its operations in Nigeria, Ghana, and Côte d’Ivoire. The startup will also grow its financial services, such as giving credit to small shop owners who need help to restock their products.

Norfund, the Norwegian investment fund, led this funding round. This marks Norfund’s first direct investment in an African tech company. Timon Capital, an earlier investor from 2022, also joined the round. Other investors included Ventures Platform, Aruwa Capital, Goodwell Investments (through Alitheia Capital), and Flour Mills of Nigeria.

In October 2024, OmniRetail strengthened its services by acquiring Traction Apps, a Nigerian fintech company that offers payment and retail tools for small businesses. This move helped OmniRetail offer better technology and services for fast-moving consumer goods (FMCG) distributors.

The company first raised $15 million in 2022 during its pre-Series A round. With the latest Series A, OmniRetail has now raised about $38 million in total since it launched.

In 2024, the company became profitable. It processed over ₦1.3 trillion (about $808.7 million) in transactions and grew its revenue by 40%. Its Buy Now, Pay Later (BNPL) platform now gives out ₦19 billion in credit every month to retailers.

Across sub-Saharan Africa, informal retailers play a major role in trade. However, many of them face poor supply chains and lack access to business loans. OmniRetail connects these shop owners with manufacturers and distributors through its digital platform. It also offers financial support to help them run their businesses better.