In a strategic move to strengthen its position in the African B2B e-commerce market, Nigerian startup OmniRetail Technology Limited has acquired Traction Apps, a leading Lagos-based business payments platform.

This merger aims to create a strong entity capable of providing comprehensive point-of-sale and inventory management services to SMEs across the continent.

A $1.2 Billion Powerhouse

The combined entity is expected to process a remarkable ₦2 trillion ($1.2 billion) in payments and facilitate ₦200 billion ($122 million) in loans annually.

This impressive scale highlights the potential of the African B2B e-commerce market and the significant role that OmniRetail and Traction Apps will play in its growth.

A Strong Foundation for Growth

Founded in 2020, Traction Apps has rapidly gained popularity in the market by offering innovative tools for payment acceptance, invoicing, and retail operations management. The company’s user-friendly platform has empowered merchants to streamline their operations and enhance customer experiences.

Omniretail has been transforming the retail landscape with its innovative approach, providing seamless shopping experiences across multiple channels.

As a leading retail platform, Omniretail Inc has expanded its operations to various regions, including Nigeria, where it continues to make significant strides.

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In Omniretail Nigeria, customers enjoy the convenience of integrated online and offline shopping, allowing for a more personalised retail experience.

Whether customers are browsing through an Omniretail store or shopping online, the brand ensures consistency and ease, making it a go-to for modern consumers.

Partnerships and Expansion

The acquisition will see Traction Apps’ merchant POS services seamlessly integrated into OmniRetail’s integrated finance solution, OmniPay. This full integration is anticipated to be completed by the first quarter of 2025. The merger brings together a powerful combination of services, including:

Traction Apps: Payment acceptance, lending, and retail software solutions.
OmniRetail: B2B e-commerce platform (OmniBiz) and distribution management solution (Mplify).

The transaction was facilitated by Venture Platform, an investor in both companies. This strategic partnership highlights the confidence that investors have in the combined entity’s potential for growth and success.

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Empowering African SMEs

This strategic alliance is expected to empower African SMEs by providing them with a comprehensive suite of tools to streamline their operations, manage their finances, and access essential business services. By combining their strengths, OmniRetail and Traction Apps are creating a one-stop-shop for African businesses.

A Bright Future for African E-commerce

The merger between OmniRetail and Traction Apps marks a significant milestone for the African B2B e-commerce sector. As the combined entity continues to grow and expand its reach, it is positioned to play a pivotal role in driving the digital transformation of businesses across the continent.