“Traction stands out as more than a payment processor, it is an indispensable growth partner to Nigerian SMEs. The company’s industry-specific software, including its financial services marketplace, offers relevant business solutions, affordable capital, and insurance. We’re excited about the team’s ability to continue delivering product innovation, and Traction’s potential to unlock immense value for SMEs, which are the bedrock of Africa’s economy,” said Dotun Olowoporoku, general partner at Ventures Platform.