According to africa.businessinsider.com, Omnibiz — a Lagos-based B2B commerce and retail technology platform founded by Indian entrepreneur Deepankar Rustagi in 2019 — has raised approximately $29 million in total funding and achieved a valuation of $120 million. The company serves small retailers across Nigeria, Ghana, and Ivory Coast, connecting them digitally with more than 200 brands and coordinating logistics through 70+ delivery partners.
From $50,000 bootstrapped start to $120M valuation
Omnibiz began operations with an initial investment of $50,000, later supplemented by about $300,000 from family and friends. It remained bootstrapped through the COVID-19 pandemic before securing a $3 million seed round in 2021, followed by $5 million in pre-Series A funding and $20 million in Series A financing. According to the report, the most recent Series A round established the company’s $120 million valuation. Rustagi emphasized capital efficiency: “The right amount is the amount required to convince your first customers to consistently use your product.”
Asset-light model targets systemic inefficiency
Rustagi deliberately avoided owning trucks, warehouses, or delivery fleets — a departure from conventional African supply chain startups. Instead, Omnibiz built an asset-light, data-first infrastructure to optimize underutilized existing assets. The source states that “the currently available fleets are operating at lower efficiency,” and adding physical capacity would not resolve core coordination gaps. Omnibiz digitizes inventory, warehousing, logistics, pricing, and financial services — positioning itself as “a data company rather than a logistics company,” per Rustagi.
Addressing Africa’s invisible informal trade economy
The platform emerged from Rustagi’s observation that Lagos — Nigeria’s commercial capital with a population above 20 million people — lacked digital visibility: early online searches for businesses in Lagos, Nigeria, often redirected to Lagos, Portugal. “You had millions of small businesses operating daily, employing huge numbers of people, but there was almost no structured digital data around them,” Rustagi said. These businesses form Africa’s largest informal trade sector, particularly in FMCG distribution and retail — a segment that employs “a huge number of people across Africa” but operates at “significantly lower” efficiency than comparable global markets, according to the source.
Operational scope and strategic focus
As of the report’s publication on 26 May 2026, Omnibiz operates in Nigeria, Ghana, and Ivory Coast. It partners with over 200 brands and 70+ logistics partners, offering digital ordering, embedded finance tools, and coordinated fulfillment — all without owning delivery assets. Rustagi clarified the company’s ambition: “Our objective is not to become the DHL of the world. We would rather become the backbone of trade in the countries where we operate.” The founder confirmed Omnibiz is prioritizing depth over geographic expansion: “We are not looking at going wide. We are looking at going deeper into the markets where we already operate.”
Source: africa.businessinsider.com
Compiled from international media by the SCI.AI editorial team.
