African tradetech company, Norebase completes $1m raise in pre-seed funding
Norebase, an African trade technology company that has built a single platform for firms to start, scale, and operate in any African country, has received $1 million in pre-seed funding from Samurai Incubate and Consonance Investment.
Sahil Lavingia (Gumroad) and Kinfolk VC also contributed to the money. Future Africa, Ventures Platform, Microtraction, Boleh Venture, Voltron Capital, Wuri Ventures, and Afropreneur were among the other investors in the round. Akinlade (Paystack), Odunayo Eweniyi (Piggyvest), Adia Sowho (MTN Nigeria), Akin Oyebode, and Seni Sulyman were among the African IT ecosystem leaders and angel investors in attendance.
It is truly impressive how Norebase is designing a future where every business and individual can experience Africa as one market. Their team comprises some of the best minds on the continent, helping simplify the complications of launching in any African market, and we are excited to be part of their growth journey.
Rena Yoneyama of Samurai Incubate
About Norebase
Norebase is a platform that allows African and non-African businesses to access the African continent as a single market, as well as providing a channel for African entrepreneurs to access global markets. It was launched in September 2021. (such as the USA).
Established businesses can expand into new areas using the platform, while new businesses can incorporate in any African country of their choice in minutes. The platform is also concerned with preserving African startups’ and foreign firms’ intellectual property as they grow. Ghana, Kenya, South Africa, Nigeria, Rwanda, Senegal, Cote d’Ivoire, Togo, Tanzania, Egypt, Mauritius, and Burkina Faso are among its donors.
It has also lately started offering incorporation services in the US.
The company has experienced a 100% increase in monthly transaction volumes and a 40% increase in revenue over the last six months.
Norebase is helping a number of innovative firms achieve their growth goals by allowing them to focus completely on their core skills. Norebase’s clients include Brass, Nestcoin, Patricia, Edenlife, GetEquity, Orda, and Kloudcommerce.
How the platform works
The Norebase Incorporation API is an API service that allows other organizations to offer incorporation services to their own customers via their websites. Customers can fill out a short form that is instantly uploaded to Norebase to register their business on their behalf.
After incorporation, the business registration documentation is also transmitted back over the API. The Norebase API can be used by banks, credit bureaus, payment processors, vendors, and any other company that interacts with registered businesses to eliminate any drop-off points in their product process, as well as the requirement for customers to leave their website/app to register a business before using the service.
Future Plans
According to Tola Onayemi, CEO of Norebase, the platform is building a future in which starting or expanding a business in any African country is as simple as clicking a button, and it is purposefully building the single digital infrastructure and technology tools that will enable trade across the continent.
The global business community is paying attention to Africa’s startup environment as a region with enormous potential, and the Norebase team is delighted to connect new and existing businesses with the tools they need to grow their businesses effortlessly in and beyond Africa.
The tremendous acceleration of innovation in Africa, as well as the expanding appeal of new markets, necessitates the development of cross-border expansion expertise.
The team is employing a number of technologies to achieve its objective of enabling anyone to do business in any African market.
Norebase sees itself as well-positioned to assist entrepreneurs, founders, and enterprises in launching and scaling their firms across borders in order to serve Africa’s 1.2 billion people.
