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OmniRetail shakes up Africa’s B2B e-commerce market with $20M Series A
When Deepankar Rustagi last raised money for OmniRetail in 2022, excitement was high for African startups addressing the supply chain and operational
Rustagi, in a conversation with TechCrunch, alongside OmiRetail’s head of investment, Archit Bagaria, further explained that the company’s progress also lies in a deep understanding of the FMCG retail ecosystem, with the entire leadership team boasting decades of experience. “Today, we are in a position to aggregate maximum benefits from every transaction in the value chain, whether it’s sourcing goods efficiently, facilitating payments, or providing working capital and value-added services like marketing for the retailer. While it no longer publicly discloses GMV figures, shifting away from the metric that has long been a key performance indicator in the sector, it reports a 35% increase in net merchandise volume (NMV) and a 40% bump in revenue over the past year, all while maintaining profitability despite its expansion.
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