In emerging markets, b2b “business to business” e-commerce platforms service the millions of small retailers and corner shops that power many of these economies. In Africa, the informal retail sector accounts for ~ 90% of transactions in Nigeria, 96% in Ghana & 70% in Kenya. In Latin America, there are over 3.7M corner stores that generate an annual revenue of $330 billion. While these small businesses account for a tremendous amount of transactions and commerce in these markets, these small businesses owners face a number of challenges in staying competitive, with major inefficiencies including fragmented distribution networks, limited access to working capital, unreliable logistics, and a lack of transparency in their supply chains. Digital platforms and marketplaces rose as a way to solve for these inefficiencies, digitizing and streamlining interactions among manufacturers, distributors, and retailers, allowing them to buy and sell goods and services to one another online, instead of through traditional, offline channels. These platforms streamline procurement, logistics, and payments, connecting informal and formal retailers more directly with brands, large suppliers, or manufacturers. This process removes intermediaries, reduces costs, improves efficiency, and often provides additional services such as delivery and credit.For this episode, we are highlighting OmniRetail and Chiper not only as two examples of leading players in this space, but also as two platforms that were asset light from day 1, and have showcased resilience within the highs and lows of the past 5 years. OmniRetail, founded by Deepankar Rustagi in 2019, which was named Africa's fastest-growing company by the Financial Times in both 2024 and 2025. They’ve raised $38 million in equity and debt since their inception.Chiper, founded in 2018 in Colombia by Jose Bonilla, Oscar Sarria Guerrero, and Carolina García, started as a platform and have evolved to become more of a software play, an operating system for retailers across Latin America. They’ve raised over $78 million to date.