Microtraction

Microtraction Limited is a venture capital firm based in Lagos, Nigeria, specializing in early-stage investments in technology startups. Founded in 2017, the firm targets companies across various sectors, with a focus on software and fintech. Microtraction typically begins its investment with $25,000 for a 7% equity stake, followed by a $50,000 convertible note at a $1 million valuation cap for startups that demonstrate significant progress. The firm aims to support exceptional technical founders in Africa, guiding them to develop their ventures into sustainable companies capable of attracting further investment or joining esteemed accelerators. By connecting these startups with later-stage investors, Microtraction plays a crucial role in navigating the funding landscape for emerging businesses.

Kwamena Afful

Founder and Partner

Yele Bademosi

Founding Partner

Sayo Folawiyo

Founding Partner

Dayo Koleowo

Investment Partner

Past deals in West Africa

ORDA

Pre Seed Round in 2022
ORDA is a cloud-based restaurant operating system built for African chefs and food business owners. ORDA's ePos, integrations, and lending solutions enable Africa’s millions of food business owners to scale and grow their business. The company was founded in 2020 and is based in Lagos, Nigeria.

Hadi.

Pre Seed Round in 2022
Hadi is a Nigerian fintech company that specializes in inventory financing for Micro, Small, and Medium Enterprises (MSMEs). It operates a digital platform designed to simplify financial transactions and services for these businesses. Hadi's offerings include investor financing and cashless payment systems, along with regular updates on financing options and market information. By providing these services, Hadi helps MSMEs preserve their cash flow, enabling them to invest strategically in business growth.

Treepz

Seed Round in 2021
Treepz is a technology-driven transportation company focused on enhancing mobility across Africa. Founded in 2019 and headquartered in Ontario, Canada, Treepz operates in Nigeria, Ghana, Uganda, and Kenya, providing users with a reliable and comfortable commuting experience. Its application allows users to book trips for daily, inter-city, or corporate travel at the tap of a button. The platform offers features such as vehicle assistants, licensed drivers, and e-wallet payments, ensuring that users can book and pay for fast and convenient trips in real-time. Through its innovative approach, Treepz aims to create a safer and more efficient transportation system for commuters in the region.

ORDA

Pre Seed Round in 2021
ORDA is a cloud-based restaurant operating system built for African chefs and food business owners. ORDA's ePos, integrations, and lending solutions enable Africa’s millions of food business owners to scale and grow their business. The company was founded in 2020 and is based in Lagos, Nigeria.

ORDA

Seed Round in 2021
ORDA is a cloud-based restaurant operating system built for African chefs and food business owners. ORDA's ePos, integrations, and lending solutions enable Africa’s millions of food business owners to scale and grow their business. The company was founded in 2020 and is based in Lagos, Nigeria.

Evolve Credit

Seed Round in 2020
Evolve Credit is a Nigerian fintech company founded in 2020, headquartered in Lagos. It operates an online platform that empowers consumers to explore, compare, and apply for various loan products tailored to different needs, including personal loans, SME loans, and options for salary earners and the unemployed. The platform provides expert reviews, ratings, and comparisons based on price, interest rates, and other terms. Additionally, Evolve Credit offers a Software as a Service (SaaS) core banking platform that enables financial institutions to streamline, digitize, and manage deposit, lending, and recovery services efficiently. This platform includes no-code tools designed to offer personalized customer banking experiences both online and offline.

Treepz

Pre Seed Round in 2020
Treepz is a technology-driven transportation company focused on enhancing mobility across Africa. Founded in 2019 and headquartered in Ontario, Canada, Treepz operates in Nigeria, Ghana, Uganda, and Kenya, providing users with a reliable and comfortable commuting experience. Its application allows users to book trips for daily, inter-city, or corporate travel at the tap of a button. The platform offers features such as vehicle assistants, licensed drivers, and e-wallet payments, ensuring that users can book and pay for fast and convenient trips in real-time. Through its innovative approach, Treepz aims to create a safer and more efficient transportation system for commuters in the region.

Evolve Credit

Pre Seed Round in 2020
Evolve Credit is a Nigerian fintech company founded in 2020, headquartered in Lagos. It operates an online platform that empowers consumers to explore, compare, and apply for various loan products tailored to different needs, including personal loans, SME loans, and options for salary earners and the unemployed. The platform provides expert reviews, ratings, and comparisons based on price, interest rates, and other terms. Additionally, Evolve Credit offers a Software as a Service (SaaS) core banking platform that enables financial institutions to streamline, digitize, and manage deposit, lending, and recovery services efficiently. This platform includes no-code tools designed to offer personalized customer banking experiences both online and offline.

Gradely.ng

Seed Round in 2020
Gradely.ng Limited operates a personalized learning platform designed for secondary school students in Nigeria. Founded in 2019 and based in Yaba, the company utilizes artificial intelligence to provide tailored learning materials, online tutorials, and video lessons. Gradely focuses on enhancing exam preparation by offering assessment reporting, tracking, and training for teachers, along with computer-based tests and a learning progress tracker for schools. The platform employs analytics to identify and address learning gaps in real-time, assisting parents and educators in supporting students effectively. Through adaptive homework tests available on web and mobile devices, Gradely assesses students' understanding of various topics and recommends specific practice sets and remedial resources. The system allows teachers to create and assign homework efficiently, while generating progress reports for students, parents, and schools. Gradely's innovative approach ensures a comprehensive learning experience by continuously adjusting the difficulty of questions based on students' mastery levels.

Termii

Seed Round in 2019
Termii is a Lagos-based company founded in 2014 that provides a cross-channel messaging and customer engagement platform tailored for African businesses. The platform facilitates communication with customers through SMS, email, voice, and instant messaging, enabling teams to secure repeat customers via personalized outreach. In addition to messaging services, Termii offers a suite of business applications that address various needs such as digital branding, sales, marketing, customer relationship management, eCommerce, accounting, inventory, and project management. This comprehensive approach allows clients to enhance their business operations and improve customer engagement across multiple channels.

54gene

Seed Round in 2019
54gene is a biotechnology company founded in 2019 and headquartered in San Francisco, California, with additional offices in Lagos, Nigeria. The company focuses on unlocking the potential of the African genome to enhance genetic research and development, addressing a significant gap in the global genomics market where a majority of genetic data is derived from individuals of Caucasian descent. By developing a pan-African biobank, 54gene aims to identify new drug targets and create diagnostics and treatments for various diseases, including cancer, cardiovascular conditions, and neurodegenerative disorders. In addition to its research initiatives, the company offers genetic testing and molecular diagnostics services to patients and healthcare providers, ensuring compliance with international data privacy laws. Through its efforts, 54gene seeks to contribute to the discovery of medical advancements that can benefit diverse populations.

Riby

Seed Round in 2018
Riby is a financial technology company based in Lagos, Nigeria, that specializes in providing a finance management platform tailored for cooperatives, trade groups, associations, and micro and small businesses. The company's platform enables users to efficiently manage their finances by automating savings processes, facilitating high-interest investments, and offering various payment options. Riby collaborates with banks and payment processing companies to assist clients, particularly those in low to middle-income brackets, in creating and managing bank or mobile money accounts. Additionally, the platform provides access to collateral-free loans, enhancing the financial capabilities of its users and promoting overall economic growth within these communities.

Buycoins

Pre Seed Round in 2018
BuyCoins is a cryptocurrency service provider based in Lagos, Nigeria, enabling users to buy, sell, receive, send, and store various cryptocurrencies, including Bitcoin, Ethereum, and USDC. The company aims to simplify cryptocurrency transactions for Africans, promoting the seamless transfer of value across the continent and beyond. Through its mobile application, BuyCoins offers a user-friendly platform that enhances accessibility to digital currencies in a rapidly evolving financial landscape.

CowryWise

Angel Round in 2018
CowryWise is a FinTech company based in Lagos, Nigeria, that provides a personal finance platform aimed at automating savings and investments for users across the country. The platform allows users to automatically transfer funds from their bank accounts into CowryWise accounts on a daily, weekly, or monthly basis. These savings are then invested in risk-free instruments such as treasury bills and government bonds, earning interest daily. CowryWise focuses on democratizing access to premium financial services by offering them at low rates, thereby enhancing financial inclusion. Through technology and investment management, the company delivers wealth management and financial planning services, along with free wealth advisory and consumer education, enabling customers to achieve their financial goals in a secure and straightforward manner.
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