OmniBiz Africa
“Can a B2B commerce platform for African informal trade become the working-capital and payments backbone that lets those retailers grow?”
Founded2019
HQLagos, Nigeria
FoundersDeepankar Rustagi
Total raised$45M
Latest roundSeries A, 2022
IndustryMarketplace / B2B e-commerce
The story
Founded 2019 as a B2B e-commerce marketplace connecting FMCG manufacturers/distributors to informal Nigerian retailers, OmniBiz built an asset-light network of ~120,000 retailers and 1,500+ field agents. The company then extended into embedded finance through OmniPay (virtual bank accounts, POS acceptance, airtime/bills) and a Buy More Pay Later working-capital product, positioning itself as the operating system — and lender of first resort — for informal African trade.
Last 12 months
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Product timeline
2019
OmniBiz founded by Deepankar Rustagi in Lagos as a B2B e-commerce platform for FMCG retailers· founding
2021
Raised $3M seed round to expand across Nigerian informal retail· funding
2022
Raised $15M Series A to scale B2B e-commerce and retailer credit· funding
2023
Launched OmniPay as embedded finance arm — virtual bank accounts, BNPL, POS, airtime/bills· banking
2023
Rolled out Buy More Pay Later (BMPL) working-capital product for retailers up to ₦2M· lending
The stack
3 layers disclosed in OmniBiz Africa’s embedded-finance stack
Payments / PSP
Banking / BaaS
in the full report
Lending
in the full report
Accounting gap: significant
5 more providers across 2 layers, with confidence-scored evidence and source URLs, are in the Embedded Finance Index report.