About Traction Apps
Traction Apps is a company based in Lagos (Nigeria) founded in 2018 by Dolapo Adejuyigbe and Mayowa Alli was acquired by OmniRetail in October 2024.. Traction Apps has raised $6 million across 1 funding round from investors including OmniRetail, Ventures Platform and P1 Ventures. Traction Apps operates in a competitive market with competitors including Cart.com, AnyMind Group, BigCommerce, ANS Commerce and CommerceIQ, among others.
- Headquarter Lagos, Nigeria
- Founders Dolapo Adejuyigbe, Mayowa Alli
-
Sectors
Retail
-
Email
***********
-
Phone
*********
-
Website
*********
-
Social
*********
-
Annual Revenue
-
Net Profit
-
EBITDA
-
Total Equity Funding
$6 M (USD)
in 1 rounds
-
Latest Funding Round
$6 M (USD), Seed
Aug 01, 2023
-
Investors
OmniRetail
& 2 more
-
Employee Count
Employee Count
-
Acquired by
OmniRetail
(Oct 21, 2024)
Unlock complete access to The Company Check
Get unrestricted viewing across everything we track — from companies and brands to investors, funding rounds, acquisitions, financials, and more.
- Unlimited viewing on all profiles Companies, investors, financials, funding, acquisitions & directors
- Full access to every database India & global coverage, advanced filters and rich profile details
- Always-on access from your team account Single premium plan for everything you see on the portal
Funding Insights of Traction Apps
Traction Apps has successfully raised a total of $6M through 1 strategic funding round. The most recent funding activity was a Seed round of $6 million completed in August 2023. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 1
- Last Round Seed — $6.0M
-
First Round
First Round
(01 Aug 2023)
- Investors Count 2
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Aug, 2023 | Amount | Seed - Traction Apps | Valuation | Ventures Platform |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
|
| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
|
| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
|
| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Traction Apps
Traction Apps has secured backing from 3 investors, including venture fund investors. Prominent investors backing the company include OmniRetail, Ventures Platform and P1 Ventures. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
|
Venture capital investments in African companies addressing innovation and infrastructure needs.
|
Founded Year | Domain | Location | |
|
Venture capital funding is provided to African tech startups by P1 Ventures.
|
Founded Year | Domain | Location | |
|
Supply-chain digitization solutions are delivered to retailers and brands.
|
Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
|
Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
|
Founded Year | Domain | Location | |
|
Startup ecosystems are ignited through strategic investments by Signite Partners.
|
Founded Year | Domain | Location | |
|
Venture capital is directed toward companies in multiple sectors.
|
Founded Year | Domain | Location | |
|
Venture capital is invested in cybersecurity, fintech, and AI startups.
|
Founded Year | Domain | Location |
Investments & Acquisitions by Traction Apps
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
|
Bionic investment advisor platform
|
2016 | ||||
|
Fine Asian gourmet food is offered by an internet-first restaurant.
|
2016 | ||||
|
Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
|
2014 | ||||
|
Fine Asian gourmet food is offered by an internet-first restaurant.
|
2016 |
Financial Statements - Traction Apps
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
|
| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
|
| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
|
| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Traction Apps Comparisons
Competitors of Traction Apps
Traction Apps operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Cart.com, AnyMind Group, BigCommerce, ANS Commerce and CommerceIQ, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Software suite solutions are provided for e-commerce businesses.
|
|
| domain | founded_year | HQ Location |
Platforms for e-commerce, marketing, and manufacturing are provided.
|
|
| domain | founded_year | HQ Location |
SaaS-based software suites for e-commerce operations are provided.
|
|
| domain | founded_year | HQ Location |
E-commerce solutions and logistics are provided for online businesses.
|
|
| domain | founded_year | HQ Location |
AI platform for retail ecommerce management and optimization is provided.
|
|
| domain | founded_year | HQ Location |
Software suite solutions are provided for brands and e-commerce businesses.
|
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
|
|
| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
|
|
| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
|
|
| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
|
Latest news on Traction Apps
Frequently Asked Questions about Traction Apps
When was Traction Apps founded?
Traction Apps was founded in 2018 and raised its 1st funding round 5 years after it was founded.
Where is Traction Apps located?
Traction Apps is headquartered in Lagos, Nigeria. It is registered at Lagos, Lagos State, Nigeria.
Is Traction Apps a funded company?
Traction Apps is a funded company, having raised a total of $6M across 1 funding round to date. The company's 1st funding round was a Seed of $6M, raised on Aug 01, 2023.
What does Traction Apps do?
Traction Apps was founded in 2018 in Lagos, Nigeria, as a provider of e-commerce solutions within the technology sector. Services encompass payments management, inventory control, customer management, online storefront design and development, analytics, reporting, back-office operations, and invoicing. A mobile application is offered on Android and iOS platforms. Retail solutions are also extended to offline businesses.
Who are the top competitors of Traction Apps?
Traction Apps's top competitors include CommerceIQ, Cart.com and aCommerce.
Who are Traction Apps's investors?
Traction Apps has 3 investors. Key investors include OmniRetail, Ventures Platform, and P1 Ventures.