Sabi, a Lagos-based B2B e-commerce startup providing digital commerce infrastructure to Africa’s informal economy, has raised $38 million in Series B funding at a valuation of $300 million.
The funding was led by Frankfurt-based specialist fintech investor CommerzVentures, Stockholm-based but Africa-focused growth-stage investor Norrsken22, U.S.-based growth-stage funds Fluent Ventures and Proof VC and pan-African early-stage investors CRE Venture Capital and Janngo Capital.
According to the company,its growth model and its approach of “focusing on the fundamentals and ensuring sound unit economics and profitability before pursuing expansion” differentiates it from other startups in the sector and has allowed it to maintain a sustainable trajectory, even in challenging market conditions.
“Sabi’s ecosystem-based approach, where we treat manufacturers, distributors, wholesalers, and retailers as merchants, is designed to be highly adaptive and responsive to…
