Norebase, a Nigerian trade tech firm, has secured $1 million in pre-seed funding to enable businesses to start, scale, and operate across Africa and the United States of America.
Co-led by Samurai Incubate and Consonance Investment, Sahil Lavingia (Gumroad) and Kinfolk VC also invested in this fundraise.
The round also included participation from Future Africa, Ventures Platform, Microtraction, Boleh Venture, Voltron Capital, Wuri Ventures, Afropreneur, and angel investments from African tech ecosystem leaders Shola Akinlade (Paystack), Odunayo Eweniyi (Piggyvest), Adia Sowho (MTN Nigeria), Akin Oyebode, and Seni Sulyman.
Norebase is building Africa’s company and trademark platform that simplifies the start and scale processes for businesses in the continent and beyond.
The pre-seed fund will help accelerate the company’s plans to build a plug-and-play company incorporation technology, broaden its trademark registration technology stack, bolster its existing team of world-class talent, and develop more research-led solutions.
Introducing the Norebase Incorporation API
Norebase has also launched Norebase Incorporation API, an API service enabling other companies to provide incorporation services to their customers via their websites.
By integrating with Norebase API, any company can provide its customer with a simple form, and the information filled on that form is automatically transmitted to Norebase to register a business on behalf of that customer.
After incorporation, the business registration documents are also transmitted back through the API.
Norebase API enables businesses such as banks, credit bureaus, payment processors, vendors, and any company that interacts with registered businesses, to eliminate any drop-off point in their product process. It also eliminates the need to wait for customers to leave their website/app to register a business before using the service.
Companies can provide this additional service to their customers without incurring additional operational costs. Norebase’s Incorporation API is currently available for incorporating businesses in Nigeria, USA, and Kenya with additional markets being added over time.
Norebase: Enabling Africa-wide Incorporation
Launched in September 2021, Norebase is laser-focused on building a two-pronged platform that offers African and non-African businesses access to the African continent as one big market while creating a channel where African founders can access the international markets (such as the USA).
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Using Norebase, established companies can expand to new locations while new businesses can be incorporated in any African country of their choice in just a few minutes.
Norebase’s platform also provides a single point for startup founders and entrepreneurs to register a company, get a bank account, get a virtual mailing address, and even register a trademark and handle IP registration in any African country.
Commenting on Norebase’s growth ambitions, Tola Onayemi, CEO at Norebase, says, “Norebase is building a future where starting a business or expanding a business in any African country is as simple as clicking a single button, and we are deliberately building the single digital infrastructure and technology tools that will power trade across the continent.”
Norebase is also focused on ensuring the Intellectual Property of startups in Africa and international companies expanding to the continent are securely protected as they scale and navigate multiple territories.
The company has helped founders incorporate companies in Ghana, Kenya, South Africa, Nigeria, Rwanda, Senegal, Cote D’Ivoire, Togo, Tanzania, Egypt, Mauritius, Burkina Faso, etc. Recently, it started offering incorporation services in the U.S.
Norebase has delivered 100% month-on-month growth in transaction volumes for the last six months, with a 40% M-o-M growth in revenue during the same period. The company is also powering the growth ambition of several innovative companies so that innovators can focus entirely on their core businesses. This is reflected in its clients like Brass, Nestcoin, Patricia, Edenlife, GetEquity, Orda, Kloudcommerce, Send.ng, Workpay, Sudo Africa, etc.
Starting & Scaling Businesses Across Africa
Given the company’s global and Africa-wide ambitions, Norebase ensured its investors came from across Africa and the world.
Rena Yoneyama of Samurai Incubate added, “It is truly impressive how Norebase is designing a future where every business and individual can experience Africa as one market.”
For one thing, Norebase is helping to simplify the complications of launching in any African market, “and we are excited to be part of their growth journey.”
The Norebase team is leveraging a stack of technology to drive their cause: “Unlocking an era of Africa-wide prosperity by enabling anyone to do business easily in any African market.”
Africa’s combined GDP currently stands at $3 trillion and is projected to reach $29 trillion by 2050.
With investment into the African tech startup space passing the $2 billion mark and projected to break records in 2022, Norebase is well-positioned to support entrepreneurs, founders, and businesses to start and scale across borders seamlessly and reach Africa’s 1.2 billion people.
