Silverbacks Holdings, a personal funding agency, has introduced its ninth worthwhile exit, following a partial exit of its stake in OmniRetail, a fast-growing B2B retail platform.
The agency revealed that the exit delivered a fivefold return on its preliminary funding, persevering with a streak of high-yielding exits. It follows an earlier exit from LemFi, which returned 29 instances the capital invested.
The most recent exit comes on the heels of OmniRetail’s $20 million Collection A funding spherical, which attracted traders together with Flour Mills of Nigeria. Based in 2019, OmniRetail digitises the casual retail provide chain and has grown its valuation to over $100 million. Between 2020 and 2023, the corporate’s income surged by 71,818 % from $280,000 in 2020 to over $120 million in 2023.
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The corporate connects over 150,000 retailers and 5,800 distributors, enabling stock, finance, and funds. It reached profitability in 2024, processing over N1.3 trillion ($810 million) in transactions final yr.
“This ninth exit is one other validation of our long-term technique and reaffirms the distinctive calibre of entrepreneurs we assist. Inevitably, Silverbacks’ crop of founders will probably be on the forefront of Africa’s subsequent era of worldwide manufacturers,” mentioned Ibrahim Sagna, Govt Chairman of Silverbacks Holdings.
“Silverbacks has been a very resourceful early investor and a constant contributor to the expansion of OmniRetail’s community. I’m excited to see them proceed the journey with us as I even have the pleasure to assist their sports activities enterprise,” added Deepankar Rustagi, Omniretail’s founder and chief govt officer.
The exit is a part of a broader partial exit program introduced by Silverbacks final month. Throughout Nigeria, exits have yielded a mean 10.7x a number of on invested capital (MOIC) and an 81.5 % inner price of return (IRR) over a mean holding interval of two.8 years. In Egypt, the averages stand at 9.7x MOIC and 339 % IRR over 1.7 years.
General, Silverbacks’ African investments have returned almost 4x the capital invested, with fintech offers main the pack at 13.7x MOIC and a 91.9 % IRR over 3.7 years. Compared, the agency’s non-African exits have yielded a extra modest 1.3x MOIC.
