Key Highlights:
- Coca-Cola, Unilever, Nestle, and Procter & Gamble will be using the Omnibiz platform that will track the sales and distributors to retailers.
- Omnibiz will lead to the e-commerce boom and recover from the affected sales amid the COVID-19 pandemic.
- Omnibiz has added two new features: buy now-pay later, and MyStore to assist the retailers.
Recently, Lagos-based Fintech has signed a deal with more than 12 companies doing business in Nigeria. Among these companies, there are companies like Coca-Cola, Unilever, Nestle, and Procter & Gamble which will be using the Omnibiz platform that will track the sales and distributors to retailers.
COVID-19 had significantly affected the trades in Nigeria, to overcome those sales and cut costs the largest consumer goods have inked an agreement with Omnibiz, which will lead to the e-commerce boom.
The deal between Omnibiz and Nestle, Coca-cola
The CEO of Omnibiz, Deepankar Rustagi shared that the transaction on the company’s Mplify product has reached $360 million and aims to grow the number to $600 million by 2023.
This new deal brings the opportunity to digitize its new clients’ local yearly revenue. The yearly revenue of $1.2 billion contributes to making 3% of Nigeria’s total produce and packaged foods market.
Deepankar Rustagi commented, “The manufacturers are making more revenue because they can see the movement of their goods and can increase the supply at a lower cost. We are in the business of making retail simple.”
New Features for Omnibiz
In 2021, Omnibiz has raised $3 million for its B2B supply chain management technology. It has launched two new features for the retailers i.e. buy now, pay later option alongside a bookkeeping app called MyStore. The buy now, pay later feature is focused on helping the retailer scale their operations and buy more goods and they can pay later after the sales.
Rustagi added on the launch, “With the introduction of MyStore App, retailers can now replace the traditional paper-based bookkeeping with the automated bookkeeping app.”
