Africa B2B OmniRetail Announces $20M Financing

Gunderson Dettmer represented client OmniRetail, a B2B e-commerce platform based in Africa, in the announcement of their $20 million new financing co-led by Norfund and Timon Capital. The company connects manufacturers, distributors and retailers across Nigeria, Ghana and Ivory Coast. OmniRetal will use its new capital to grow its retailer base, expand into new product categories and upgrade its infrastructure.

In the announcement of the transaction, CEO of OmniRetail Deepankar Rustagi said, “The profitability journey was an outcome of our efficiency on utilizing the assets that we aggregated in the network, and this has proven that the model that we put together as a ‘network of networks’ is profitable and is highly scalable.”

The Gunderson deal team was led by Ibrahim Elshamy and included Vard Danielyan.

Companies
OmniRetail
Norfund
Timon Capital