OmniRetail shakes up Africa’s B2B e-commerce market with $20M Series A
OmniRetail raised $20 million in Series A funding to enhance its operations in West Africa. The funding round was co-led by Norfund and Timon Capital, marking Norfund's first direct equity investment in an African startup.
"Companies are not sold; they're bought." Ventures Platform's Managing Partner on M&A activity in Africa
OmniRetail acquired Traction Apps to enhance its fintech capabilities. Ventures Platform facilitated the acquisition of Brass earlier in 2024.
Traction Apps all-stock acquisition adds to string of investor-led deals creating quick wins
OmniRetail acquires Traction Apps in an all-stock deal. The acquisition is part of a trend of VCs consolidating startups for better returns.
Nigerian fintech Traction Apps has cut jobs following its acquisition of OmniRetail
Traction Apps confirms layoffs after acquisition by OmniRetail. Decision influenced by the need to optimize departments for efficiency.
Nigerian fintech Traction Apps cuts jobs following OmniRetail acquisition
Traction Apps acquired by OmniRetail. Layoffs announced post-acquisition.
