COMPANY PROFILE

OmniRetail (DBA Omnibiz)

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Helping people get the most out of their lives by providing them with the tools they need to be successful

Oworonshoki, NigeriaFounded 2019eCommerce & Marketplaces

Valuation $0–100M Latest valuation · 2022

Revenue $1–10M Latest reported FY

Headcount 500–1k Current team size

Total funding $10–50M Disclosed equity funding

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About OmniRetail (DBA Omnibiz)

OmniRetail, operating as Omnibiz, is a B2B e-commerce company focused on digitizing Africa's informal retail supply chain. Founded in 2019 by Deepankar Rustagi, the Nigeria-based startup aims to unify a fragmented distribution network composed of manufacturers, distributors, logistics providers, and retailers. Rustagi, who has lived in Nigeria for over two decades, brought more than 15 years of experience in the FMCG sector and technology consulting to the venture. His journey includes founding VConnect, an earlier tech startup, and holding key sales and marketing roles, which provided deep insights into the challenges of the African retail market. This background informed Omnibiz's creation, stemming from the identified need to digitize processes for manufacturers and retailers.

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The company operates an asset-light model, which allows it to scale rapidly without heavy investment in physical infrastructure like warehouses or delivery fleets. Instead, Omnibiz partners with existing distributors for warehousing and third-party logistics providers for last-mile delivery, coordinating the movement of goods through its technology platform. Retailers can order products from over 200 brands, including major names like Nestlé, Coca-Cola, and Unilever, through a mobile app, WhatsApp channel, or a dedicated phone number, with goods delivered to their doorstep within 24 hours at no extra cost. This addresses key retailer challenges such as convenience, product variety, and reliable pricing.

OmniRetail's ecosystem includes several products. The core B2B e-commerce platform, OmniBiz, is complemented by Mplify, a sales force automation tool for distributors, and OmniStore (formerly MyStore), a bookkeeping and inventory management app for retailers. OmniStore also enables retailers to access a Buy Now, Pay Later (BNPL) service, providing working capital based on their transaction history. By digitizing the entire value chain, the company provides manufacturers and distributors with valuable data and analytics on sales, inventory turnover, and customer behavior, improving efficiency and profitability for all stakeholders. The company has demonstrated significant traction, serving over 120,000 retailers and achieving an annual Gross Merchandise Value (GMV) of over $130 million. To fuel its growth and expansion into other West African markets like Ghana, Omnibiz has secured significant funding, including a $3 million seed round in 2021 and a $15 million pre-Series A round in 2022.

Source: Dealroom company data