Omnibiz Gets $3M To Digitize Nigeria’s Informal B2B Supply Chain
- ByAyushi Ray | August 10, 2021
Omnibiz gets $3M to digitize Nigeria’s informal B2B supply chain. Omnibiz is a B2B e-commerce platform that connects fast-moving consumer goods (FMCGs) manufacturers to retailers by digitizing the supply chain stakeholders. The platform offers a mobile app, WhatsApp channel and a phone number that retailers can use to stock their shops. Omnibiz says in a statement that retailers “can place orders at their convenience and have goods delivered to their doorstep at no cost.” Omnibiz was launched in 2019 by Deepankar Rustagi. The Indian founder and CEO who has stayed in Nigeria for over two decades started his first startup, VConnect, in 2011 as an online marketplace and search engine to find local professionals for service needs. The platform connected individuals with more than 100 services and over 500,000 listed businesses across the country before shutting down in 2017, Rustagi claims.
Post-VConnect, Rustagi consulted for multiple FMCG brands. He figured a need existed for manufacturers and retailers of goods to digitize their processes leading to the launch of Omnibiz in late 2019. Omnibiz operates an asset-light retail distribution model. When a retailer makes an order on the Omnibiz platform, it is requested from partner distributors who store goods on behalf of manufacturers and are traditionally known to help out with warehousing and transportation. With Omnibiz, these distributors can focus solely on warehousing and pass on the responsibility of transporting goods to Omnibiz’s third-party logistics providers. The drivers of these logistics providers use Omnibiz to efficiently distribute the orders to the retailers within 24 hours. “We work with manufacturers to provide visibility. Then buy goods from them and keep them in partner hubs that act as warehouses and distributors. Then, use the services of drivers that work with third-party logistics drivers who get paid on every delivery made,” Rustagi informed the media.
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