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Traction raises US$6M seed as Nigeria’s merchant acquiring space continues to heat up

Traction, a Nigeria-based merchant solution platform today announced a US$6 million seed round. The investment was anchored by Pan-African investor Ventures Platform and Multiply Partners, with participation from P1 Ventures and other investors. Founded in 2020 by Mayowa Alli and Dolapo Adejuyigbe, Traction is a fintech that allows small companies to receive payments, manage accounts, and access operational tools.

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Terragon’s US$9M raise gives credence to the market maturity in Africa’s cloud and martech space

August 3, 2023

Africa’s foremost data and marketing technology company, which converts telco channels into mobile advertising inventory, announced a US$9 million Series B round to expand its focus on offering mobile B2C messaging backed by deep consumer insights from “big data.” The round was led by Orange Ventures with participation from TLcom Capital, LoftyInc, Sango Capital, VestedWorld and Western Technology Investment (WTI).

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Nigeria’s Remedial Health raises US$12M to deliver financial services for neighbourhood pharmacies

August 3, 2023

Remedial Health, a Nigerian startup digitizing pharmacies and bringing efficiency to the pharmaceutical value chain, has raised US$12 million Series A equity-debt funding to scale operations in the West African country. Fintech VC firm QED Investors co-led the round, banking on embedded financial opportunities like payments and lending in the pharmaceutical sector.

CDPI Emerging Markets
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Customer Data Platform Industry Adds New Vendors: CDP Institute Report

July 12, 2024

Software vendors continued to add Customer Data Platform (CDP) capabilities to existing systems in the first half of 2024, according to the CDP Institute’s latest Industry Update report.  Nearly all of the dozen companies appearing in the report for the first time started as marketing or messaging applications and added CDP capabilities after they were built.  These firms accounted for most of the industry growth during the report period.

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