With a $300 million valuation, Sabi, a Lagos-based B2B e-commerce business that offers digital commerce infrastructure to Africa’s informal economy, has raised $38 million in Series B funding.
The company’s executives confirmed the funding in a statement on Friday.
According to the statement, CommerzVentures, Norrsken22, Fluent Ventures and Proof VC and CRE Venture Capital and Janngo Capital are some of the investors in this round.
The Lagos-based startup claims its “ecosystem-based approach, where we treat manufacturers, distributors, wholesalers, and retailers as merchants, is designed to be highly adaptive and responsive to market dynamics.”
According to experts, One thing to note is how Sabi can generate greater merchandise quantities thanks to its operational approach and the clients it targets.
Sabi initially focused on FMCGs but has since broadened its scope to include electronics, chemicals, and agricultural items.
