What does Traction Apps do?

Nigerian fintech providing POS terminals, payments and business management software to SMEs; acquired by OmniRetail in 2024.

Who founded Traction Apps?

Traction Apps was founded by 'Mayowa Alli.

Who are Traction Apps's investors?

Traction Apps's investors include Consonance Investment Managers, Digital Currency Group, First Circle, Metis Capital, Ventures Platform.

Where is Traction Apps headquartered?

Traction Apps is headquartered in Lagos, NG.

Traction Apps

Acquired

Lagos, NG · 5 known investors

Traction is a payments and business management platform offering point-of-sale terminals and software tools for merchants to accept payments, manage inventory, send invoices, and access CRM functionality. The platform serves small and medium-sized businesses in Nigeria with both hardware terminals and cloud-based business tools.

Also known as Traction · Traction Apps Nigeria

Enterprise Software Fintech SaaS

Founders & leadership

'Mayowa Alli inCo-FounderMayowa Alli is founder of Traction, a payments and business management platform providing point-of-sale terminals and software tools for small and medium-sized businesses in Nigeria.

Investors · 5

Consonance Investment ManagersEbene

Digital Currency GroupNew York

First CircleCasablanca · $100K – $250K

Metis CapitalreportedLagos · $10K – $5M

Ventures PlatformreportedAbuja · $50K – $1M

Company profile

researched Aug 2026

Traction Apps is a Nigerian fintech that combines payment acceptance with retail and business management software for small and medium-sized businesses. Merchants can accept bank transfers, card payments, USSD and (announced as forthcoming) QR payments, and receive same-day settlement. Alongside payments, the platform provides a retail point-of-sale system, product catalogue and inventory management including inventory transfers, invoicing, customer management (CRM), employee and multi-store management, and e-commerce tools [0][1][2].

The company also sells its own payment hardware in three tiers: Traction One (NGN 110,000), a device intended to run multiple business functions; Traction Pro (NGN 50,000) for card acceptance; and Traction Solo (NGN 15,000), an affordable terminal that connects to the merchant's own device. Each terminal is offered on a lease-to-own basis with fixed daily payments over 100–220 days [0][1]. Beyond software and terminals, Traction Apps provided virtual accounts, loans and other financing services to merchants, plus value-added services such as bill payments and insurance, and held payment licences in Nigeria [3][4].

Traction Apps was acquired by OmniRetail, a B2B e-commerce company, in an all-stock transaction announced in October 2024. The deal was facilitated by mutual investor Ventures Platform and gave Traction's investors stakes in OmniRetail; financial terms were not disclosed. Following the acquisition, Traction Apps confirmed layoffs affecting sales, engineering and marketing teams, while its founders and most senior staff were retained [3][4].

Compiled by commissioned research from 5 cited public sources — announcements, filings, and press listed under research sources below.

Key figures

latest reported

Combined customers in wholesale and retail after acquisitionOct 2024180,000 customers

Projected annual loan facilitation of combined entityOct 2024$122M

Projected annual transaction volume of combined entityOct 2024$1B

Traction One terminal priceJan 2024110,000 NGN

Traction Pro terminal priceJan 202450,000 NGN

Traction Solo terminal priceJan 202415,000 NGN

Company-reported or press-reported figures, each dated to when it was claimed — not independently audited.

Competitors · 4

by search overlap

Tractiontechnology10 shared keywordsTraction Technology offers an end-to-end innovation management platform, powered by its Traction AI, that helps enterprises discover, evaluate, and manage new ideas, emerging technologies, and outside vendors. The platform provides AI-driven insights and customizable workflows aimed at reducing wasted time and cost in enterprise innovation processes.

Tractionsoftware10 shared keywordsTraction TeamPage is a collaboration platform that combines social media features, project management, and authoring tools to help teams capture and share content, move business communication out of email, and manage workflows. It is a flexible business software product designed to be adapted to a wide range of teams and processes.

Traction Ag7 shared keywordsTraction Ag provides cloud-based accounting and farm management software built specifically for farms, offering crop-year accounting, real-time profitability tracking by acre or field, Schedule F and 1099 tax reporting, and integrations with tools like John Deere Operations Center and Climate FieldView. It targets farmers and multi-entity farm operations in the agricultural sector.

Traction marketplace-b2c6 shared keywordsTraction is a marketing and business strategy consultancy that helps companies develop brand narratives, design digital experiences, and build high-performing marketing organizations. The firm combines AI tools with expert consultants to drive growth and operational efficiency across brand building, demand generation, and marketing operations for enterprises across multiple industries.

Companies competing with Traction Apps for the same Google search keywords, organic and paid, via search-intersection analysis.

Timeline · 4

launches, deals, and filings

Oct 2024

OmniRetail acquires Traction Apps in all-stock deal

OmniRetail, a Nigerian B2B e-commerce company reportedly valued at $65 million in its last funding round, acquired Traction Apps in an all-stock transaction, giving Traction investors Multiple Partners, P1 Ventures, Ventures Platform and Voltron Capital stakes in OmniRetail. The value of the deal was not disclosed, and part of the consideration is contingent on future value from the integration. Ventures Platform, an investor in both companies, facilitated the deal. OmniRetail said it is assuming both debt and equity from Traction Apps. Co-founders Mayowa Alli and Dolapo Adejuyigbe remained with the company to lead growth.

source ↗

Jan 2024

Founders take payments leadership roles at OmniRetail

Following the acquisition, co-founders Mayowa Alli and Dolapo Adejuyigbe joined OmniRetail as Director of Technology for Payments and Director of Operations for Payments, respectively.

source ↗

Jan 2024

Layoffs following OmniRetail acquisition

Traction Apps confirmed it would lay off employees after the acquisition, describing it as optimising certain departments; a source said sales, engineering and marketing teams were affected. The company said severance would follow Nigerian labour law and that career counselling and job placement support would be offered; leadership was not affected and some staff moved into OmniRetail roles.

source ↗

Jan 2024

Payments and collections partnership with OmniRetail

Traction Apps worked with OmniRetail as one of several financial services providers enabling payments and collections; the partnership preceded and led to the acquisition.

source ↗

Dated company events from announcements, filings, and press; legal rows summarize public dockets and regulator releases.

▸Research sources · 5

primary sources listed

Traction Appstractionapps.co · web

5 public sources were cited for this profile; the first-party ones are listed here.

Frequently asked questions

What does Traction Apps do?: Nigerian fintech providing POS terminals, payments and business management software to SMEs; acquired by OmniRetail in 2024.
Who founded Traction Apps?: Traction Apps was founded by 'Mayowa Alli.
Who are Traction Apps's investors?: Traction Apps's investors include Consonance Investment Managers, Digital Currency Group, First Circle, Metis Capital, Ventures Platform.
Where is Traction Apps headquartered?: Traction Apps is headquartered in Lagos, NG.