Friday, May 9, 2025
The Lagos Today
  • Login
  • Home
  • Tech
    NjiaPay: South African Fintech Startup Reshaping Payment Solutions for African Businesses

    NjiaPay: South African Fintech Startup Reshaping Payment Solutions for African Businesses

    Ghana’s Kofa Secures $8.1M Pre-Series A Funding to Drive Clean Energy Access Across Urban Africa

    Ghana’s Kofa Secures $8.1M Pre-Series A Funding to Drive Clean Energy Access Across Urban Africa

    South Africa’s CureRoot Leverages AI to Unlock New Medicines from African Medicinal Plants

    South Africa’s CureRoot Leverages AI to Unlock New Medicines from African Medicinal Plants

    SA’s Peach Payments Expands into Francophone Africa with PayDunya Acquisition

    SA’s Peach Payments Expands into Francophone Africa with PayDunya Acquisition

    Egypt’s Enza Secures $6.75M to Drive Financial Inclusion in Africa

    Egypt’s Enza Secures $6.75M to Drive Financial Inclusion in Africa

    South African Prop-Tech Startup Preferental Unveils Innovative Tenant-Screening App

    South African Prop-Tech Startup Preferental Unveils Innovative Tenant-Screening App

    LoftyInc Capital Secures $43 Million for First Close of New Pan-African Seed Fund

    LoftyInc Capital Secures $43 Million for First Close of New Pan-African Seed Fund

    Stitch Teams Up with Standard Bank’s Shyft for Instant Wallet Top-Ups in South Africa

    Stitch Teams Up with Standard Bank’s Shyft for Instant Wallet Top-Ups in South Africa

    Kenya Takes Action Against TikTok Following Child Exploitation Exposé

    Kenya Takes Action Against TikTok Following Child Exploitation Exposé

  • Startups⚡ by CRAWL
    NjiaPay: South African Fintech Startup Reshaping Payment Solutions for African Businesses

    NjiaPay: South African Fintech Startup Reshaping Payment Solutions for African Businesses

    Ghana’s Kofa Secures $8.1M Pre-Series A Funding to Drive Clean Energy Access Across Urban Africa

    Ghana’s Kofa Secures $8.1M Pre-Series A Funding to Drive Clean Energy Access Across Urban Africa

    South Africa’s CureRoot Leverages AI to Unlock New Medicines from African Medicinal Plants

    South Africa’s CureRoot Leverages AI to Unlock New Medicines from African Medicinal Plants

    Kenyan Tourism Venture Studio Purple Elephant Ventures Increases Seed Round to $5 Million

    Kenyan Tourism Venture Studio Purple Elephant Ventures Increases Seed Round to $5 Million

    SA’s Peach Payments Expands into Francophone Africa with PayDunya Acquisition

    SA’s Peach Payments Expands into Francophone Africa with PayDunya Acquisition

    Egypt’s Enza Secures $6.75M to Drive Financial Inclusion in Africa

    Egypt’s Enza Secures $6.75M to Drive Financial Inclusion in Africa

    GIIG Partners with SparkRockets to Launch AI-Powered Startup Validation Tool

    GIIG Partners with SparkRockets to Launch AI-Powered Startup Validation Tool

    Tanzania’s Kilimo BaNDO Revolutionizes Agriculture for Smallholder Farmers

    Tanzania’s Kilimo BaNDO Revolutionizes Agriculture for Smallholder Farmers

    South African Prop-Tech Startup Preferental Unveils Innovative Tenant-Screening App

    South African Prop-Tech Startup Preferental Unveils Innovative Tenant-Screening App

    LoftyInc Capital Secures $43 Million for First Close of New Pan-African Seed Fund

    LoftyInc Capital Secures $43 Million for First Close of New Pan-African Seed Fund

  • Opinion
  • Business
  • Biotech
  • Industry
    iPhone 16 Sales Surge 20% in China, Signaling a Strong Comeback

    iPhone 16 Sales Surge 20% in China, Signaling a Strong Comeback

    Grid Africa Secures $2.8 Million for Renewable Energy Initiatives in South Africa

    Grid Africa Secures $2.8 Million for Renewable Energy Initiatives in South Africa

    Millennials and Gen Z Show Shorter Tenures Despite Clear Career Paths, New Report Shows

    Millennials and Gen Z Show Shorter Tenures Despite Clear Career Paths, New Report Shows

    Kenya’s Octavia Secures $3.9M Seed Funding to Tackle Carbon Emissions

    Kenya’s Octavia Secures $3.9M Seed Funding to Tackle Carbon Emissions

  • Features & Interviews
  • Entertainment
    • All
    • Art & Design
    • Books
    • Movie
    • Music
    • Sports
    Pick n Pay Set to List Boxer Business in Africa’s Largest IPO of 2024

    Pick n Pay Set to List Boxer Business in Africa’s Largest IPO of 2024

    One Direction Star Liam Payne Dies after Hotel Balcony Fall

    One Direction Star Liam Payne Dies after Hotel Balcony Fall

    It’s important to set boundaries in entertainment industry – Reminisce

    It’s important to set boundaries in entertainment industry – Reminisce

    AFCON 2023: Super Eagles Ready to Face Lions of Cameroon on Saturday – Peseiro

    Flying Eagles moves to Ikenne for camping in prep for 2024 WAFU B U20 Championship in Togo

    EGUAVOEN APPOINTED NIGERIA FOOTBALL FEDERATION TECHNICAL DIRECTOR

    Eguavoen gives conditions for turning Super Eagles interim job to full time role

    Jagun Jagun secures 7 nominations at 2024 AMAA

    Jagun Jagun secures 7 nominations at 2024 AMAA

    Atiku Faults 2020 Budget Review, Urges FG to Prioritize Welfare of Citizens

    Atiku proposes single term of 6-years rotational Presidency

    Oba Elegushi donates 3 standard tennis courts to LASU, reveal reasons behind donation

    Oba Elegushi donates 3 standard tennis courts to LASU, reveal reasons behind donation

    Covid-19: Cinema Operators Decry N22Bn Losses

    FG grants licensing waiver for community cinemas investors – NFVCB

  • Reviews
No Result
View All Result
  • Home
  • Tech
    NjiaPay: South African Fintech Startup Reshaping Payment Solutions for African Businesses

    NjiaPay: South African Fintech Startup Reshaping Payment Solutions for African Businesses

    Ghana’s Kofa Secures $8.1M Pre-Series A Funding to Drive Clean Energy Access Across Urban Africa

    Ghana’s Kofa Secures $8.1M Pre-Series A Funding to Drive Clean Energy Access Across Urban Africa

    South Africa’s CureRoot Leverages AI to Unlock New Medicines from African Medicinal Plants

    South Africa’s CureRoot Leverages AI to Unlock New Medicines from African Medicinal Plants

    SA’s Peach Payments Expands into Francophone Africa with PayDunya Acquisition

    SA’s Peach Payments Expands into Francophone Africa with PayDunya Acquisition

    Egypt’s Enza Secures $6.75M to Drive Financial Inclusion in Africa

    Egypt’s Enza Secures $6.75M to Drive Financial Inclusion in Africa

    South African Prop-Tech Startup Preferental Unveils Innovative Tenant-Screening App

    South African Prop-Tech Startup Preferental Unveils Innovative Tenant-Screening App

    LoftyInc Capital Secures $43 Million for First Close of New Pan-African Seed Fund

    LoftyInc Capital Secures $43 Million for First Close of New Pan-African Seed Fund

    Stitch Teams Up with Standard Bank’s Shyft for Instant Wallet Top-Ups in South Africa

    Stitch Teams Up with Standard Bank’s Shyft for Instant Wallet Top-Ups in South Africa

    Kenya Takes Action Against TikTok Following Child Exploitation Exposé

    Kenya Takes Action Against TikTok Following Child Exploitation Exposé

  • Startups⚡ by CRAWL
    NjiaPay: South African Fintech Startup Reshaping Payment Solutions for African Businesses

    NjiaPay: South African Fintech Startup Reshaping Payment Solutions for African Businesses

    Ghana’s Kofa Secures $8.1M Pre-Series A Funding to Drive Clean Energy Access Across Urban Africa

    Ghana’s Kofa Secures $8.1M Pre-Series A Funding to Drive Clean Energy Access Across Urban Africa

    South Africa’s CureRoot Leverages AI to Unlock New Medicines from African Medicinal Plants

    South Africa’s CureRoot Leverages AI to Unlock New Medicines from African Medicinal Plants

    Kenyan Tourism Venture Studio Purple Elephant Ventures Increases Seed Round to $5 Million

    Kenyan Tourism Venture Studio Purple Elephant Ventures Increases Seed Round to $5 Million

    SA’s Peach Payments Expands into Francophone Africa with PayDunya Acquisition

    SA’s Peach Payments Expands into Francophone Africa with PayDunya Acquisition

    Egypt’s Enza Secures $6.75M to Drive Financial Inclusion in Africa

    Egypt’s Enza Secures $6.75M to Drive Financial Inclusion in Africa

    GIIG Partners with SparkRockets to Launch AI-Powered Startup Validation Tool

    GIIG Partners with SparkRockets to Launch AI-Powered Startup Validation Tool

    Tanzania’s Kilimo BaNDO Revolutionizes Agriculture for Smallholder Farmers

    Tanzania’s Kilimo BaNDO Revolutionizes Agriculture for Smallholder Farmers

    South African Prop-Tech Startup Preferental Unveils Innovative Tenant-Screening App

    South African Prop-Tech Startup Preferental Unveils Innovative Tenant-Screening App

    LoftyInc Capital Secures $43 Million for First Close of New Pan-African Seed Fund

    LoftyInc Capital Secures $43 Million for First Close of New Pan-African Seed Fund

  • Opinion
  • Business
  • Biotech
  • Industry
    iPhone 16 Sales Surge 20% in China, Signaling a Strong Comeback

    iPhone 16 Sales Surge 20% in China, Signaling a Strong Comeback

    Grid Africa Secures $2.8 Million for Renewable Energy Initiatives in South Africa

    Grid Africa Secures $2.8 Million for Renewable Energy Initiatives in South Africa

    Millennials and Gen Z Show Shorter Tenures Despite Clear Career Paths, New Report Shows

    Millennials and Gen Z Show Shorter Tenures Despite Clear Career Paths, New Report Shows

    Kenya’s Octavia Secures $3.9M Seed Funding to Tackle Carbon Emissions

    Kenya’s Octavia Secures $3.9M Seed Funding to Tackle Carbon Emissions

  • Features & Interviews
  • Entertainment
    • All
    • Art & Design
    • Books
    • Movie
    • Music
    • Sports
    Pick n Pay Set to List Boxer Business in Africa’s Largest IPO of 2024

    Pick n Pay Set to List Boxer Business in Africa’s Largest IPO of 2024

    One Direction Star Liam Payne Dies after Hotel Balcony Fall

    One Direction Star Liam Payne Dies after Hotel Balcony Fall

    It’s important to set boundaries in entertainment industry – Reminisce

    It’s important to set boundaries in entertainment industry – Reminisce

    AFCON 2023: Super Eagles Ready to Face Lions of Cameroon on Saturday – Peseiro

    Flying Eagles moves to Ikenne for camping in prep for 2024 WAFU B U20 Championship in Togo

    EGUAVOEN APPOINTED NIGERIA FOOTBALL FEDERATION TECHNICAL DIRECTOR

    Eguavoen gives conditions for turning Super Eagles interim job to full time role

    Jagun Jagun secures 7 nominations at 2024 AMAA

    Jagun Jagun secures 7 nominations at 2024 AMAA

    Atiku Faults 2020 Budget Review, Urges FG to Prioritize Welfare of Citizens

    Atiku proposes single term of 6-years rotational Presidency

    Oba Elegushi donates 3 standard tennis courts to LASU, reveal reasons behind donation

    Oba Elegushi donates 3 standard tennis courts to LASU, reveal reasons behind donation

    Covid-19: Cinema Operators Decry N22Bn Losses

    FG grants licensing waiver for community cinemas investors – NFVCB

  • Reviews
No Result
View All Result
The Lagos Today
No Result
View All Result
Home Headlines

Nigerian Retail-Tech Startup OmniRetail Acquires Traction Apps to Strengthen Its SME Offerings

by Iyanu Ale
October 23, 2024
in Headlines, Startups, Tech
Reading Time: 2 mins read
0
0
Nigerian Retail-Tech Startup OmniRetail Acquires Traction Apps to Strengthen Its SME Offerings
Share on FacebookShare on Twitter

Nigerian retail-tech company OmniRetail has announced the acquisition of Traction Apps, a move aimed at enhancing its digital services for small and medium-sized enterprises (SMEs) across the continent. OmniRetail, founded in 2019, provides B2B solutions to address key challenges within Africa’s commerce value chain, with a particular focus on supporting informal retailers.

Through its flagship platform Omnibiz, alongside tools like OmniPay and Mplify, OmniRetail offers retailers essential resources to procure products, build credit, and optimize their operations for growth. Currently, the startup boasts over 140,000 small retailers and 90 brands on its platform, positioning itself as a significant player in the retail tech space.

The acquisition of Traction Apps, a startup co-founded by Mayowa Alli and Dolapo Adejuyigbe in 2020, will allow OmniRetail to integrate Traction’s merchant POS services into its OmniPay ecosystem. Traction Apps provides over 100,000 merchants with a one-stop platform for payment acceptance, lending, and retail software solutions. This merger is expected to enhance financial services for retailers, allowing them to simplify payments, access credit, and scale their businesses.

“This acquisition represents the culmination of a strong partnership with Traction. What began as an integration of Traction’s POS into OmniPay has grown into a full merger. Together, we will offer retailers and SMEs simplified payments, credit access, and loyalty solutions to help them thrive in a rapidly digitizing market,” said Deepankar Rustagi, CEO of OmniRetail.

Co-founder of Traction, Mayowa Alli, noted that the merger will enable the startup to scale its offerings and provide more comprehensive solutions to small businesses across Nigeria. His co-founder, Dolapo Adejuyigbe, echoed this sentiment, stating that the collaboration would solidify their position as a key growth partner for SMEs.

The combined entity will now serve over 180,000 customers across wholesale and retail sectors, cementing its leadership in Nigeria’s fast-moving consumer goods (FMCG) market. Traction’s founding team will join OmniRetail’s leadership, focusing on the growth of OmniPay, product development, and integrating the two platforms.

Dika Oha, OmniRetail’s chief platform officer, highlighted the importance of Traction’s fintech expertise in driving innovation and growth within the company. Ventures Platform, a key investor in both OmniRetail and Traction, played a pivotal role in bringing the two companies together.

“This acquisition underscores our commitment to creating stronger solutions for African SMEs by leveraging the strengths of our portfolio companies,” said Dotun Olowoporoku, partner at Ventures Platform.

The integration of Traction’s services into OmniPay will roll out in phases, starting with platform consolidation and eliminating redundancies. Full integration is expected by the end of Q1 2025, with expanded services available to customers shortly after.

“As part of this acquisition, Traction’s investors will benefit from both debt and equity in the combined entity, allowing them to share in the continued growth of the business,” Rustagi added.

This strategic merger marks a major step forward for OmniRetail as it continues to drive innovation and empower African SMEs.

Share this:

  • Facebook
  • X

Like this:

Like Loading...
Tags: OmniRetailRetail TechSMEStartupsTech startups
Previous Post

Nigerian Fintech Startup Klasha Raises Additional $2 Million for Expansion into China

Next Post

Nigerian Fintech Startup Sproutly Launches Version 2, Announces Key Strategic Partnerships

Iyanu Ale

Iyanu Ale

Related Posts

NjiaPay: South African Fintech Startup Reshaping Payment Solutions for African Businesses

NjiaPay: South African Fintech Startup Reshaping Payment Solutions for African Businesses

by Iyanu Ale
May 5, 2025
0

In a move poised to transform how African businesses manage financial transactions, South African fintech startup NjiaPay is streamlining payments...

Ghana’s Kofa Secures $8.1M Pre-Series A Funding to Drive Clean Energy Access Across Urban Africa

Ghana’s Kofa Secures $8.1M Pre-Series A Funding to Drive Clean Energy Access Across Urban Africa

by Iyanu Ale
May 2, 2025
0

Ghanaian energy tech startup Kofa has successfully raised $8.1 million in a pre-Series A funding round to scale its AI-powered...

Next Post
Nigerian Fintech Startup Sproutly Launches Version 2, Announces Key Strategic Partnerships

Nigerian Fintech Startup Sproutly Launches Version 2, Announces Key Strategic Partnerships

Please login to join discussion

Recommended

No Nigerian President Ever Came Prepared- Kukah

No Nigerian President Ever Came Prepared- Kukah

2 years ago
“200 years since the first raising of the Argentine flag in Malvinas”.

“200 years since the first raising of the Argentine flag in Malvinas”.

5 years ago

Popular News

    Connect with us

    Tags

    #EndSARS 2023 Elections 2023 polls 2023 Presidency ACCIDENT Africa All progressives Congress APC Asiwaju Bola Tinubu Babajide Sanwo-Olu CBN Central Bank of NIgeria Central Bank of Nigeria (CBN) Coronavirus pandemic Covid-19 Covid-19 in Lagos Covid-19 in Nigeria Covid-19 Vaccine Cryptocurrency Economic and Financial Crimes Commission EFCC Federal Government Federal Government of Nigeria Fraud Gov. Sanwo-Olu House of Representatives Lagos-Ibadan expressway Lagos state Lagos State Government Lagos State House of Assembly Lagos State Police command Muhammadu Buhari Murder Naira NDLEA Nigeria Nigeria Customs Service Nigerian Economy Nigeria Police Force Rape Strike action TECH UK United Kingdom US

    News

    • Industries
    • National
    • Startups
    • Biotechnology

    Opinion

    • Editorials
    • Today’s Opinion
    • Letters
    • Sunday Review
    • Advertise
    • Opinion
    • Features & Interviews
    • Investigation
    • Contact

    © 2020 The Lagos Today - Nkali.

    Welcome Back!

    Login to your account below

    Forgotten Password?

    Retrieve your password

    Please enter your username or email address to reset your password.

    Log In
    No Result
    View All Result
    • Tech
    • Business
    • Biotech
    • Startups
    • Entertainment
    • Feature & Interviews
    • Reviews
    • Opinion

    © 2020 The Lagos Today - Nkali.

    %d