Lagos – At the recently concluded Builders Summit 2025, convened by Peace Itimi, industry experts emphasized that investors are increasingly focusing on startup traction as a critical factor when deciding where to place their funds. Drawing from the panel session moderated by Ayobamigbe Teriba, featuring Oyin Solebo, Damilola Teidi, and Ireayo Oladunjoye – several key points emerged on how startups can attract investment beyond simply having strong teams and promising business ideas.
Panelists highlighted that traction, demonstrated by measurable growth indicators such as revenue, user acquisition, and strategic partnerships, serves as concrete proof that a startup’s product or service is gaining market acceptance. This real-world validation significantly reduces investment risk and boosts investor confidence. The discussion also stressed the importance of showing early signs of market fit, customer love, and month-to-month value growth, as well as tracking where customers are coming from and focusing on retention.
Other practical advice shared included the benefits of engaging angel investors at the idea or early stage, maintaining transparency, sending out regular investor updates, and demonstrating good governance practices from the outset.
In a keynote session, Seye Bandele, founder of PaidHR, advised founders on the art of selling and highlighted the importance of listening in sales, stating that “70% of selling comes from listening.” When asked how he scaled PaidHR, Bandele explained, “We knew that we didn’t have a lot of money to do marketing, so we were going to leverage the founder to do the marketing as organically as possible… Every story I’m telling, I’m depositing something into your mind – either about myself or about the company we’re building,” emphasizing that founders must strategically take advantage of their current reality and resources to succeed.
The summit featured additional discussions on the adoption patterns of AI among African tech startups, with a particular focus on Nigeria’s evolving ecosystem. Other sessions included contributions from notable figures such as Fisayo Fosudo, Tomiwa Aladekomo, Njoku Emmanuel, David Adeleke and Douglas Kendyson, founder of Selar.
Peace Itimi, the convener, is a prominent Nigerian tech storyteller and growth marketing professional. She created Founders Connect, a platform that began as a YouTube channel documenting African tech entrepreneurs’ journeys through interviews and live events, aimed at building community and preserving the history of Africa’s tech ecosystem. Her work also includes producing “Innovating Africa,” a documentary focused on Nigeria’s tech landscape.
Founders Connect has become a vital space for knowledge sharing and networking, with over 70 founder interviews and successful live events in Lagos, Nairobi, and London.
The Builders Summit 2025 continues this mission by equipping builders with insights to scale, learn in the curve, and secure funding in a competitive market. The event serves as a vital platform for exchanging ideas and strategies for building and scaling innovative solutions in Nigeria and beyond.
Ultimately, the panelists’ advice reinforces the growing consensus that traction is a key ingredient in securing investor funding and driving startup success.
