Sabi raises $38M Series B at $300M valuation

In May 2023, Sabi closed a $38 million Series B round at a $300 million post-money valuation, led by CommerzVentures with participation from Norrsken22, Fluent Ventures, PROOF, CRE Venture Capital, Janngo Capital, and others including LoftyInc (per portfolio context and investor lists). This followed earlier rounds, including a $20M venture round in 2022 and a $6M bridge in 2021, bringing total disclosed funding to approximately $61M.

The capital supported expansion of its B2B platform, embedded finance, logistics, and early development of traceability tools amid rapid growth to 300,000+ merchants and $1B annualized GMV. However, facing thin margins typical of African B2B e-commerce, Sabi restructured in mid-2025, laying off ~20% of staff (~50 employees) to refocus resources on its high-potential TRACE commodity export vertical.

The pivot has driven revenue growth (reported ~$46.5M in 2024) through traceable exports of minerals and cash crops. Sabi now positions itself as infrastructure for compliant, transparent African commodity supply chains serving global buyers demanding ESG standards. As of 2026, the company remains active and private with operations across multiple African countries.

Sabi provides digital commerce infrastructure and a B2B marketplace that connects informal merchants, suppliers, distributors, and global buyers. Originally focused on FMCG and retail digitization with embedded finance and logistics in Nigeria and Kenya, the company has pivoted to emphasize traceable commodity exports, particularly critical minerals such as lithium, cobalt, tin, and agricultural cash crops.

It operates the TRACE (Technology Rails for African Commodity Exchange) platform, which uses blockchain and digital passports for end-to-end traceability, ESG compliance, quality certification, and supply chain financing. Sabi serves over 250,000–300,000 merchants and smallholder producers/miners across Nigeria, DRC, Zambia, Zimbabwe, South Africa, and other markets, facilitating exports to buyers in the US, Europe, and Asia (over 20,000 tons of commodities monthly). The business model includes transaction fees, financing margins, and infrastructure services for compliant global trade.

The company was founded as a spin-off from Rensource Energy and is backed by multiple venture investors. It reported over $1 billion in annualized GMV by mid-2023 and has since grown revenue significantly through its minerals focus.