# Traction Apps

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/traction-apps

- Industry: Financial Services
- Headquarters: Lagos, Nigeria
- Total disclosed funding: $6M
- Latest round: Seed (Aug 1, 2023)
- Investors on record: 3

## About

Based in Lagos, Nigeria, and founded in 2018, Traction Apps Limited provides a variety of payment terminals and many others. The company was co-founded by Mayowa Alli and Dolapo Adejuyigbe. In August 2023, the firm raised USD 6 million in Seed funding co-led by Multiply Ventures and Ventures Platform, with participation from P1 Ventures.

The company offers a wide range of solution for businesses that allows it to accept payments, manage sales, send invoices, and manage inventory. The firm solution range includes POS terminals, invoicing, bank transfers, and loans. Additionally, the company provides a variety of business tools e-commerce, customer management, inventory management, and many others.

The firm generates revenue by charging for its solutions such as a fee of 0.7% per transaction on POS, and a fee of 0.5% per transaction on bank transfers. Additionally, it sells Traction One POS at NGN 110,000, Traction Pro at NGN 50,000, and Traction Solo at NGN 15,000. 

The company plans to use the August 2023 funding to support its expansion in Nigeria.

## Funding rounds

- Seed, Aug 1, 2023, $6M — Ventures Platform, Multiply Ventures, P1 Ventures

## Investors

- Ventures Platform (https://capitalatlas.ai/funds/ventures-platform) — Seed
- Multiply Ventures (https://capitalatlas.ai/funds/multiply-ventures) — Seed
- P1 Ventures (https://capitalatlas.ai/funds/p1-ventures) — Seed