New Podcast: Deepankar Rustagi, Omnibiz Africa

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Episode 22 of the BIG5D Podcast features Deepankar Rustagi, CEO of Omnibiz Africa. Deepankar founded Lagos-based Omnibiz in 2020 to help small FMCG (fast-moving consumer goods) retailers run their businesses more efficiently.

Omnibiz has a solution for each link in the local FMCG value chain — retailers, field agents, suppliers, and drivers. Omnibiz offers agents, suppliers, and drives revenue opportunities.

"We don't do any of the logistics or the warehousing. We get it done."

The company recently raised a $3 million seed round to build out its product and pursue international expansion. The company has raised $4 million since its inception. And Deepankar believes Omnibiz will need to raise $50 million in order to achieve its vision.

Watch the episode on YouTube

As Deepankar explains, Nigeria has 1 million small retailers. Most of these generate less than $1,000 a month in gross revenue, stocking perhaps 30 to 50 SKUs. And three-quarters are women-led businesses. These businesses need a way to stock their shelves efficiently, so they are no waiting weeks for deliveries or having to close up shop to go out and find stock.

In the near term, Omnibiz hopes to offer a credit product, so the best customers can fulfill orders on credit vs cash on delivery as it is today. The company also wants to expand its software offer to include a simple CRM for its small business customers to better organize their businesses.

Read more on Substack 

You can listen to the podcast here

The BIG5D Podcast · Episode 22: Deepankar Rustagi, CEO, Omnibiz

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