Sabi, a B2B marketplace, has announced the completion of a US$6 million bridge round to assist the company’s rapid expansion in Nigeria and beyond.
CRE Venture Capital led the bridge round, which included investors such as Janngo Capital, Atlantica Ventures, and Waarde Capital.
Sabi is optimizing Africa’s informal trading sector by bringing merchants and resellers into its network with selected business tools and services that help them contact new clients, increase cash flow, and optimize logistics. Sabi was founded in 2020.
Sabi’s category-agnostic platform is used by over 175,000 merchants to manage their operations and conduct B2B transactions. On Sabi’s platform, merchants are transacting at a rate of more than US$100 million GMV per year, and the company recently launched in Kenya.
“As Sabi continues to develop at an unbelievable rate, we are thrilled to have concluded this bridge round.” Our merchant users are taking advantage of every feature of our platform, and the quality of the B2B partners we’ve brought onto the market is reflected in the growing transaction volume,” said Sabi CEO Anu Adasolum.
The additional capital will aid the company’s quick expansion as it looks to expand into new regions, including South Africa.
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