Silverbacks partially exits from OmniRetail with a 5x return in ninth profitable exit

The exit follows OmniRetail’s recent $20 million Series A raise, which saw participation from 64-year-old manufacturing titan, Flour Mills of Nigeria, alongside other backers. This partial exit marks Silverbacks’ ninth profitable exit. 

Founded in 2019, OmniRetail links 150,000 retailers with 5,800 distributors and fast-moving consumer goods (FMCG) manufacturers through its e-commerce platform. Twice dubbed Africa’s fastest-growing business, it saw revenue surge 71,818% from $280,000 in 2020 to over $120 million in 2023, processed more than ₦1.3 trillion ($810 million) in deals in 2024, and hit profitability

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