OmniRetail Acquires Traction Apps

Nigeria-based startup OmniRetail has announced the acquisition of Traction Apps, a Lagos-based business payments platform, in a move aimed at enhancing its point-of-sale (POS) and inventory management services for African small and medium-sized enterprises (SMEs). The acquisition, which was recently shared on LinkedIn, marks a significant step in OmniRetail’s mission to digitize traditional e-commerce for African businesses.

Founded in 2018, Traction Apps offers a suite of applications designed to help SMEs streamline their operations. Its tools facilitate payment acceptance, invoicing, retail operations management, logistics, and supply chain processes. By integrating these services, OmniRetail will bolster its offerings to better support retailers, distributors, and manufacturers.

Strengthening OmniRetail’s Embedded Finance Solution

As part of the acquisition, OmniRetail will merge Traction’s merchant POS services into its embedded finance solution, OmniPay. The integration is expected to be fully completed by Q1 2025, enabling OmniRetail to provide a seamless platform for businesses to manage sales and inventory while accepting payments.

In addition to OmniPay, OmniRetail’s other flagship products include OmniBiz, a B2B e-commerce platform, and Mplify, a distribution management solution. Mplify is specifically designed for FMCG distributors, helping them automate sales and inventory processes to drive growth.

Venture Platform’s Role in the Deal

Both OmniRetail and Traction Apps are part of the portfolio of Venture Platform, an Abuja-based investment fund that facilitated the transaction. While the financial terms of the deal have not been disclosed, the acquisition will undoubtedly enhance OmniRetail’s capabilities, allowing the company to further digitize e-commerce and improve operational efficiency for SMEs across Africa.