Nigerian E-Commerce Startup Sabi Raises USD 38 M Series B Round

Sabi, a Lagos-based B2B e-commerce startup providing digital commerce infrastructure to Africa’s informal economy, has raised USD 38 M in Series B funding at a valuation of USD 300 M. Frankfurt-based fintech investor CommerzVentures, Norrsken22, Fluent Ventures, Proof VC and pan-African early-stage investors CRE Ventures and Jaango participated in the round.

Sabi complements the intermediaries in the B2B e-commerce retail chain, from manufacturers and distributors to wholesalers and retailers (who the startup collectively refers to as merchants). It uses offline agents, call centers, merchant partners and supplier centers (with access to tools including inventory management, sales, tracking, digital invoices and analytics) as channels to meet the various stakeholders in this value chain.