Sabi, which connects informal traders with suppliers, is seeking $125m in a Series B funding round planned to start in September, its co-founder, Ademola Adesina, said in an interview. The firm, which also operates in Kenya, plans to open in South Africa this month, having already hired staff. It is also setting up a finance vehicle to help its clients raise money for expansion.
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Norrsken22-backed Nigerian startup plans $125m round
“We are asset light, we do not own vehicles or warehouses,” Adesina said. “We are a platform for owners of all of those. We are a platform for all of those middlemen.”
