Traction Raises $6M Seed As Nigeria’s Merchant Acquiring Space Continues To Heat Up
Amount Raised
$6 Million
Round Type
Seed
LagosFinancial ServicesSoftwarePaymentsE CommerceFintechDescription
Micro, small, and medium-sized firms (MSMEs) constitute the backbone of the Nigerian economy, accounting for more than 60% of GDP growth and playing a crucial role in job creation. According to the National Bureau of Statistics, there are over 39 million such firms, and 87% operate informally, meaning they primarily receive cash and perform activities on paper.
Quick answer
Traction raised $6 Million in a Seed round, dated August 1, 2023. Traction is based in Lagos, Lagos State, Nigeria.
- How much did Traction raise?
- Traction raised $6 Million in a Seed round on August 1, 2023.
- What does Traction do?
- Traction Apps is a one stop platform for small businesses to accept payments, run their businesses and access capital for growth, We are building the operating system for SMEs in Africa!
- Where is Traction based and how big is it?
- Traction is based in Lagos, Lagos State, Nigeria.
- Who are the decision-makers at Traction?
- Fundz holds 1 contact at Traction. Names and contact details are shown to Fundz members.
Source: Fundz verified event record.
Who else raised in Financial Services and Payments around the same time
Companies in the same sectors as Traction that raised within 45 days of this round, from Fundz verified event records.
- Streamex Corp. raised $794K (Seed) on September 12, 2023.
- Craftgate raised an undisclosed amount on August 23, 2023.
- Translucent raised $6.3M (Seed) on August 23, 2023.
- Koverly raised $7.6M (Funding Round) on August 22, 2023.
- Emtech Solutions raised $4M (Seed) on August 4, 2023.
- Streamex Corp. raised $2.2M (Seed) on July 31, 2023.
Who to call at Traction, and when
A new round usually means Traction is about to hire and buy. The teams that reach out first get the meeting.
- An alert the day Traction raises, hires an executive or expands, scored against what you sell
- The decision-makers there, with verified emails
- Who you already know at Traction, from your own LinkedIn network
Works inside ChatGPT and Claude. Ask who to call at Traction. With Fundz connected, it knows.
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Fundz sees it the moment Traction raises, hires an exec or expands, usually minutes after it happens, and tells you who to reach.
Related People
Traction raised. Fundz records a round at a median of 3.6 minutes from the SEC filing, with the decision-maker attached.
145 of these a day, filtered to the companies you pick, with the decision-maker attached.
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