Norrsken22-Backed Nigerian Startup Plans $125 Million Round
- Nigerian company to start offering services in South Africa
- Sabi plans to start raising Series B round in September
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A Nigerian startup that connects informal traders with suppliers more than doubled the amount of funds it plans to raise this year after it breezed through its financial targets.
Sabi is seeking $125 million in a Series B funding round planned to start in September, its co-founder, Ademola Adesina, said in an interview on Friday. 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, he said.