OmniRetail, the B2B e-commerce trailblazer recently named Africa’s fastest-growing company by the Financial Times, has secured $20 million in Series A funding to supercharge its expansion across Nigeria, Ghana, and Ivory Coast.
The raise marks a series of firsts. Co-led by Norfund—Norway’s development finance institution making its first direct equity investment in an African startup—and Lagos-based Timon Capital, the round drew support from returning investors Ventures Platform, Aruwa Capital, and Goodwell Investments via Alitheia Capital.
But the most unexpected name on the cap table? Flour Mills of Nigeria. The 64-year-old FMCG heavyweight’s move into tech investment signals a deeper shift in strategy. Far from a vanity play, this is a bold stake in the future of distribution.
In markets where last-mile delivery remains fragmented and analog, OmniRetail’s digital infrastructure offers a critical edge. Its suite of tools—Omnibiz for retailers, Mplify for distributors, and Omnipay for embedded finance—has already processed $810 million in transactions, with $12 million disbursed monthly in credit.
The new capital will power deeper market penetration, expansion into categories like personal care and cold storage, and a ramp-up of Omnipay's credit and infrastructure offerings. Strategic acquisitions, such as its 2024 buyout of Traction Apps, hint at even bigger ambitions.
For Flour Mills, this isn't just an investment—it's an early claim on what could become Africa’s dominant distribution channel. And for OmniRetail, the message is clear: Africa’s retail revolution is just getting started.
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