OmniRetail Acquires Traction to Strengthen Retail Tech Ecosystem
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Deepankar Rustagi, CEO of OmniRetail
Nigerian retail-tech startup OmniRetail has acquired Traction Apps, a prominent payment solutions provider for small merchants in Nigeria. Founded in 2019, OmniRetail focuses on offering digital infrastructure to address key challenges in Africa's commerce sector, particularly for informal retailers. Its flagship platform, Omnibiz, along with OmniPay and Mplify, supports over 140,000 small retailers and 90 brands in boosting profitability and growth.
The acquisition of Traction Apps, founded in 2020 by Mayowa Alli and Dolapo Adejuyigbe, will enhance OmniRetail’s ecosystem by integrating Traction’s merchant POS services into OmniPay. Traction Apps provides over 100,000 merchants with payment acceptance, lending, and retail software solutions.
Deepankar Rustagi, CEO of OmniRetail, emphasized the merger's potential to streamline payments and credit access for retailers and SMEs. Traction's co-founders highlighted the acquisition as a step towards scaling solutions and simplifying payments for small businesses. The combined entity will now serve 180,000 customers across Nigeria's retail sector, positioning itself as a leader in FMCG merchant services.
The founding team of Traction will join OmniRetail's leadership to drive product development and expand the reach of OmniPay’s solutions.
Source: Tom Jackson / Disrupt Africa
OmniRetail
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