Participated · Seed · Apr 2022

Etap is a Nigerian insurtech that streamlines motor insurance purchases and claims, enabling customers to buy policies in 90 seconds and complete claims in three minutes. The company launched a beta app in November last year offering flexible policies—per trip, daily, monthly or yearly—and behavioral pricing with gamification so customers earn and redeem points. Etap’s end-to-end services include image-based pre-loss inspections and post-accident reviews, and the app uses geolocation tags, timestamps and crash notifications to reduce fraud. Founder and CEO Ibraheem Babalola built the product to simplify manual, agent-driven processes and to improve user experience, flexibility and transparency. The startup received $1.5 million in pre-seed funding and is on an expansion drive across Nigeria with plans to scale across Africa. Tangerine Insurance is Etap’s underwriter, and the company tailors prices according to driver behavior to profile risk and reward safer drivers.

Led · Seed · Aug 2021

Omnibiz operates an asset-light B2B e-commerce platform and retail operating system that connects FMCG manufacturers, partner distributors and last-mile logistics to informal retailers via a mobile app, WhatsApp channel and phone ordering. The company offers the MyStore bookkeeping app that integrates procurement, inventory, sales tracking and BNPL working-capital services to improve retailer retention and operations. Omnibiz serves over 3,000 daily active retailers, reports an annual GMV of $130 million, and has expanded to 12 Nigerian cities and into Ghana. The platform partners with more than 70 logistics providers and delivers products from over 200 brands. Founded in 2019 by Deepanker Rustagi and based in Lagos, Omnibiz focuses on retailer loyalty and unit economics rather than broad registered‑merchant counts. The company plans regional expansion into Abidjan, Takoradi, Kumasi and Accra and aims to grow daily active retailers to 10,000 next year. Omnibiz digitizes the informal B2B FMCG supply chain by connecting manufacturers with retailers through a mobile app, WhatsApp channel and a phone number for orders. The company uses an asset-light model: partner distributors warehouse goods while Omnibiz contracts third-party logistics to deliver orders to retailers within 24 hours. It serves more than 20 brands, including Coca-Cola, Nestlé, Kellogg’s, Unilever, Procter & Gamble and Kimberly‑Clark, with top categories of food, non-alcoholic beverages, personal care and baby care. Omnibiz currently operates in Lagos, Abuja, Port Harcourt and Kaduna and plans to add Ibadan and Kano before the end of August, then expand into West African cities such as Abidjan, Takoradi, Kumasi and Accra. The company plans new tech products, expanded category coverage (alcoholic beverages and OTC pharmaceuticals) and tools to improve retailers’ access to working capital and business management. Management reports 30% month-on-month growth over the past 12 months and has raised fresh capital to support expansion.