54 investors have funded 10 B2B E-Commerce companies head-officed in Lagos, across 88 rounds (Jun 2017 – Apr 2025). They are ranked by how many Lagos companies in this market they have actually backed.
"In Lagos" describes the companies, not the investor: most of the money in any city comes from somewhere else, and the Where the money comes from section below shows exactly where it came from here.
Ranked by companies backed in this market and city, then by round count. "Led" counts rounds recorded with this investor as lead.
| # | Investor | Based in | Stages here | Companies | Rounds | Led | Latest | Portfolio total |
|---|---|---|---|---|---|---|---|---|
| 1 | Y Combinator | Mountain View, United States | SeedSeries A | 4 | 6 | 3 | Apr 2025 | 5,648 |
| 2 | Partech Partners | Paris, France | Series ASeries B | 2 | 4 | 3 | Sep 2022 | 351 |
| 3 | Musha Ventures | New York City, United States | Seed | 2 | 3 | 1 | Aug 2022 | 58 |
| 4 | Timon Capital | New York City, United States | SeedSeries A | 2 | 3 | 3 | Apr 2025 | 7 |
| 5 | Soma Capital | San Francisco, United States | Seed | 2 | 2 | 1 | Aug 2022 | 333 |
| 6 | Liquid 2 Ventures | San Francisco, United States | Seed | 2 | 2 | 1 | Aug 2022 | 309 |
| 7 | EchoVC Partners | Lagos, Nigeria | Seed | 2 | 2 | 1 | Jun 2022 | 49 |
| 8 | Ventures Platform | Abuja, Nigeria | Series ASeed | 2 | 2 | — | Apr 2025 | 40 |
| 9 | Chandaria Capital | Nairobi, Kenya | Series ASeed | 2 | 2 | 1 | Aug 2022 | 18 |
| 10 | Aruwa Capital Management | Lagos, Nigeria | SeedSeries A | 2 | 2 | 1 | Apr 2025 | 12 |
| 11 | CRE Venture Capital | Johannesburg, South Africa | Series BSeedSeries A | 1 | 3 | 2 | May 2023 | 31 |
| 12 | Janngo | Abidjan, Ivory Coast | SeedSeries ASeries B | 1 | 3 | 1 | May 2023 | 12 |
| 13 | IFC | Washington, DC, United States | Series ASeries B | 1 | 2 | 2 | Nov 2021 | 359 |
| 14 | Hustle Fund | San Carlos, United States | SeedSeries A | 1 | 2 | — | Sep 2022 | 161 |
| 15 | Hack VC | San Francisco, United States | SeedSeries A | 1 | 2 | — | Sep 2022 | 140 |
| 16 | MSA Capital | Chaoyang, China | Series ASeries B | 1 | 2 | 1 | Nov 2021 | 66 |
| 17 | Magic Fund | San Francisco, United States | SeedSeries A | 1 | 2 | — | Sep 2022 | 54 |
| 18 | Goodwell Investments | Amsterdam, Netherlands | Series A | 1 | 2 | — | Apr 2025 | 26 |
| 19 | LoftyInc Capital Management | Ikeja, Nigeria | Seed | 1 | 2 | 1 | Aug 2022 | 28 |
| 20 | Norrsken22 | Stockholm, Sweden | Series B | 1 | 2 | 1 | May 2023 | 13 |
| 21 | Oui Capital | Lagos, Nigeria | Seed | 1 | 2 | 2 | Aug 2022 | 11 |
| 22 | Atlantica Ventures | Lagos, Nigeria | SeedSeries A | 1 | 2 | 1 | Nov 2021 | 10 |
| 23 | Waarde Capital | Mamer, Luxembourg | SeedSeries A | 1 | 2 | 1 | Nov 2021 | 5 |
| 24 | Alitheia Capital | Lagos, Nigeria | Series A | 1 | 2 | — | Apr 2025 | 7 |
| 25 | Global Founders Capital | Berlin, Germany | Seed | 1 | 1 | 1 | Oct 2021 | 563 |
| 26 | Alumni Ventures | New York City, United States | Seed | 1 | 1 | 1 | Aug 2022 | 607 |
| 27 | Endeavor | New York City, United States | Series B | 1 | 1 | — | Nov 2021 | 313 |
| 28 | British International Investment | London, United Kingdom | Series B | 1 | 1 | — | Nov 2021 | 147 |
| 29 | Tribe Capital | Menlo Park, United States | Seed | 1 | 1 | 1 | Aug 2022 | 155 |
| 30 | Commerce Ventures | San Francisco, United States | Seed | 1 | 1 | 1 | Aug 2022 | 118 |
| 31 | Norfund | Oslo, Norway | Series A | 1 | 1 | 1 | Apr 2025 | 107 |
| 32 | VentureSouq | Dubai, United Arab Emirates | Series A | 1 | 1 | — | Sep 2022 | 106 |
| 33 | FinTech Collective | New York City, United States | Series B | 1 | 1 | 1 | Apr 2022 | 76 |
| 34 | Launch Africa | Ebene City, Mauritius | Seed | 1 | 1 | 1 | Aug 2021 | 81 |
| 35 | CommerzVentures | Frankfurt Am Main, Germany | Series B | 1 | 1 | — | May 2023 | 43 |
| 36 | GFR Fund | San Francisco, United States | Series A | 1 | 1 | — | Sep 2022 | 49 |
| 37 | TLcom | Nairobi, Kenya | Series A | 1 | 1 | 1 | Sep 2022 | 34 |
| 38 | HAVAIC | Cape Town, South Africa | Seed | 1 | 1 | — | Jun 2022 | 26 |
| 39 | Nama Ventures | Riyadh, Saudi Arabia | Seed | 1 | 1 | — | Aug 2022 | 25 |
| 40 | MyAsiaVc | Singapore, Singapore | Seed | 1 | 1 | — | Feb 2022 | 30 |
| 41 | Kube VC | Dubai, United Arab Emirates | Series A | 1 | 1 | — | Sep 2022 | 24 |
| 42 | Lateral Frontiers | New York City, United States | Seed | 1 | 1 | — | May 2018 | 17 |
| 43 | PROOF | Reston, United States | Series B | 1 | 1 | — | May 2023 | 22 |
| 44 | Rising Tide Africa | Lagos, Nigeria | Seed | 1 | 1 | 1 | Aug 2021 | 8 |
| 45 | SUNU Capital | Atlanta, United States | Seed | 1 | 1 | 1 | Aug 2021 | 8 |
| 46 | Kairos Angels | Series A | 1 | 1 | — | Sep 2022 | 6 | |
| 47 | Fluent Ventures | San Francisco, United States | Series B | 1 | 1 | — | May 2023 | 5 |
| 48 | Sahel Capital | Lekki, Nigeria | Series B | 1 | 1 | — | Nov 2021 | 4 |
| 49 | Chapel Hill Denham | Lagos, Nigeria | Seed | 1 | 1 | — | Aug 2022 | 3 |
| 50 | NovaStar | Las Vegas, United States | Series B | 1 | 1 | — | Nov 2021 | 3 |
| 51 | Tangerine | Menlo Park, United States | Seed | 1 | 1 | 1 | Aug 2021 | 2 |
| 52 | Expert Media Partners | London, United Kingdom | Seed | 1 | 1 | — | Jun 2022 | 1 |
| 53 | We-Fi | Washington, DC, United States | Series A | 1 | 1 | 1 | Jul 2020 | 1 |
| 54 | FMN | Lagos, Nigeria | Series A | 1 | 1 | — | Apr 2025 | 1 |
Head office of the investors on this page.
Rounds by stage — where in a company's life this money arrives.
Total disclosed size of each round, not one investor's share.
How active this market has been.
B2B E-Commerce companies head-officed in Lagos that took money from these investors.
| Company | Backers | Rounds | Disclosed | Latest round |
|---|---|---|---|---|
| Vendease vendease.com |
13 | 17 | $202.5M | Series A Sep 2022 |
| Omnibiz omnibiz.com |
11 | 14 | $51M | Seed Jun 2023 |
| TradeDepot tradedepot.co |
9 | 13 | $823M | Series B Nov 2021 |
| Sabi sabi.am |
9 | 16 | $260M | Series B May 2023 |
| Duplo tryduplo.com |
9 | 11 | $38.3M | Seed Aug 2022 |
| OmniRetail omniretail.africa |
8 | 10 | $160M | Series A Apr 2025 |
| Shopex TV shopextv.com |
3 | 3 | $1.9M | Seed Jun 2022 |
| Medsaf medsaf.com |
2 | 2 | $330K | Seed May 2018 |
| Suplias suplias.com |
1 | 1 | — | Seed Jul 2021 |
| Traders of Africa tradersofafrica.com |
1 | 1 | — | Seed Jun 2019 |
| Date | Investor | Company | Stage | Round size |
|---|---|---|---|---|
| Apr 2025 | Alitheia Capital | OmniRetail | Series A | $20M |
| Apr 2025 | Ventures Platform | OmniRetail | Series A | $20M |
| Apr 2025 | Y Combinator | OmniRetail | Series A | $20M |
| Apr 2025 | FMN | OmniRetail | Series A | $20M |
| Apr 2025 | Goodwell Investments | OmniRetail | Series A | $20M |
| Apr 2025 | NorfundLED | OmniRetail | Series A | $20M |
| Apr 2025 | Timon CapitalLED | OmniRetail | Series A | $20M |
| Apr 2025 | Aruwa Capital Management | OmniRetail | Series A | $20M |
| Apr 2024 | Alitheia Capital | OmniRetail | Series A | — |
| Apr 2024 | Goodwell Investments | OmniRetail | Series A | — |
| Jun 2023 | Aruwa Capital ManagementLED | Omnibiz | Seed | — |
| May 2023 | CommerzVentures | Sabi | Series B | $38M |
| May 2023 | CRE Venture Capital | Sabi | Series B | $38M |
| May 2023 | Fluent Ventures | Sabi | Series B | $38M |
| May 2023 | Janngo | Sabi | Series B | $38M |
| May 2023 | PROOF | Sabi | Series B | $38M |
| May 2023 | Norrsken22 | Sabi | Series B | $38M |
| Sep 2022 | Hustle Fund | Vendease | Series A | $20M |
| Sep 2022 | VentureSouq | Vendease | Series A | $20M |
| Sep 2022 | TLcomLED | Vendease | Series A | $20M |
B2B E-Commerce investors in other cities
Other markets in Lagos