Here is an exciting development we are happy to share. Traction Partners Octamile to Fortify its Financial Infrastructure. This partnership is a big step in strengthening Traction’s finances and making its operations more secure and sustainable.
Who is Traction?
Traction is a business solutions platform for MSMEs. Its vision is to partner with businesses from the ideation to expansion stage by providing solutions (payment solutions, loan facilities, and business tools) for every aspect of business management and growth.
Traction is a one-stop solution for businesses to streamline operations, process payments efficiently, and achieve sustainable growth. With a customer-focused approach, Traction empowers businesses across Nigeria to thrive in today’s dynamic business landscape.
The merger of Traction’s business management solutions and Octamile’s Embedded Insurance Infrastructure will change the landscape of growth facilitation and risk mitigation for small and medium-sized businesses across Nigeria.
Traction Partners Octamile
By integrating Octamile’s advanced insurance infrastructure, Traction is not only expanding its service portfolio but also delivering an additional layer of security to its clientele. This partnership goes beyond conventional business support by safeguarding businesses against unforeseen financial risks, aligning perfectly with Traction’s mission to empower businesses at every stage of their journey.
Mayowa Alli, Co-Founder of Traction, elaborates on the partnership’s significance, saying, “Octamile’s partnership with Traction signifies a significant step towards fortifying our financial infrastructure.
By protecting our assets from financial risks, this partnership amplifies our commitment to secure and sustainable operations.
Together, we ensure we can confidently navigate the business landscape, backed by the assurance of safeguarded risk assets.”
Traction partners Octamile by embedding credit life + fire & burglary insurance to safeguard the assets and interests of its customers. The fire and burglary insurance not only shields the goods financed by Traction’s loans but also extends its protective mantle to the businesses themselves.
Recognising that unforeseen risks could impact a business owner’s capacity to repay, this addition enhances the security net for both borrowers and the business ecosystem.
In the words of Gbenro Dara, CEO of Octamile, “This partnership represents more than just an alignment of businesses; it’s a synergy of values and goals. By safeguarding Traction assets and that of its customers from financial risks, this collaboration amplifies our commitment to helping organisations achieve secure and sustainable operations.
It also underscores their shared commitment to innovation, customer-centricity, and holistic business support. As it evolves, it promises to redefine business management, lending, and risk mitigation dynamics. It is set to redefine how businesses approach financial security and growth, seamlessly integrating technology and comprehensive business solutions.
About octamile
Octamile is a leading insurtech company; Octamile is at the forefront of digitising insurance processes, making insurance solutions accessible and hassle-free.
Trusted by renowned B2C companies like Gokada, Terminal Africa, Jamborow, DriveMe, VeendHQ, Edusko, Wecover, and LogiTrak, Traction, Spreentar, Kredibank who rely on our API or Widget to unlock limitless possibilities for businesses and customers alike.
We have a reputation for simplifying the launch of multiple or single insurance products across web and app platforms. From lifestyle to goods-in-transit, health to auto and credit insurance, Octamile’s cutting-edge digital infrastructure unlocks limitless possibilities for businesses and customers alike.Experience the future of insurance with Octamile. Leverage our digital insurance infrastructure to propel your business forward. Schedule a meeting today or email us at business@octamile.com to unlock limitless possibilities.
