Launched in Lagos in 2020, Sabi began as a software platform helping informal retailers digitize inventory and sales and later expanded into an FMCG marketplace with embedded finance across Nigeria and Kenya. By mid-2023 the company claimed over 300,000 merchants and $1 billion in annualized GMV. The firm maintained an asset-light model and stayed profitable despite sector headwinds such as thin margins and capital intensity. In March it launched TRACE (Technology Rails for African Commodity Exchange) and has been building a traceable, ethically sourced commodity exports business targeting minerals (lithium, cobalt, tin) and cash crops. Sabi now exports over 20,000 tons monthly to buyers in the U.S., Europe, and Asia and has launched operations in the U.S. To align with demand for TRACE, the company has restructured and laid off roughly 20% of its workforce (~50 employees).

Total raised

$38M

Funding rounds

1

Latest round

Series B

Latest activity

Jun 2025