Nigerian B2B e-commerce platform Ominibiz raises $15 million to drive expansion and customer retention

Omnibiz, a Nigeria-based B2B e-commerce platform that operates a retail distribution model, has raised $15 million in its pre-Series A funding round led by Timon Capital, in a mixture of debt and equity financing.

• The fund will be used to improve its processes of gaining customer loyalty and retention and expanding into new cities. It plans to expand to Abidjan, Takoradi, Kumasi, and Accra.
• Omnibiz provides a technology-powered platform for B2B distribution of consumer goods. It uses its apps: MyStore App and Omnibiz Retail App to operate, covering last-mile delivery, procurement, working capital, inventory management, and tools for tracking sales, costs, and profit for users.
• It aims to increase its loyal customer base from 3,000 to 10,000 next year and 4x the revenue of the retailers using its platform.
• The e-commerce startup raised $3 million in seed funding last August, with Ventures Platform, Lofty Inc, Chapel Hill Denham, Chandaria, and Musha Ventures participating in its latest raise.