New post Need visibility? Apply for a FREE post for your Startup.  Apply Here

Startups

Trade technology startup – Norebase – raises $1 million to upscale its services

1 Mins read

Nigerian-based trade technologies startup, Norebase, has announced the completion of its pre-seed funding round. The startup which is building a single platform for businesses to start, scale, and operate in African countries, raised $1 million from a number of investors.

The fundraising round was led by investors like Samurai Incubate, and Consonance Investment.

Other participants in the funding round include Sahil Lavingia (Gumroad), Kinfolk VC, Future Africa, Ventures Platform, Microtraction, Boleh Venture, Voltron Capital, Wuri Ventures, and Afropreneur.

Angel investors from African tech ecosystem leaders who participated in the investment round include Shola Akinlade (Paystack), Odunayo Eweniyi (Piggyvest), Adia Sowho (MTN Nigeria), Akin Oyebode, and Seni Sulyman.

Norebase affirms that the funds will be used to upscale its plug-and-play API, hire more hands, and broaden its trademark registration technology.

Speaking on the idea behind the startup, Norebase CEO, Adetola Onayemi said the inspiration came from his engagement with clients while working as a technical adviser to the vice president of Nigeria.

“I had done all this work in policy, ease of doing business, free trade agreement, and I was advising some people in tech who would say, ‘listen, I just raised new capital to enter new markets, I dont know how I’m supposed to navigate it,'” Onayemi told TechCrunch.

Onayemi, who also co-founded African-focused VC firm, Future Africa, said Norebase creates a platform for startups to build on, and push their solutions to the market.

“Providing a framework where people can operate and scale their solutions to several markets at once is incredibly important. […] Our solution is for people in the local market moving into their first market or a company in their fourth market trying to scale their enterprise,” Onayemi added.

Read also: Amazon is accepting applications for its AWS Impact Accelerator Program for minority founders

Norebase was founded in September 2021. The startup prides itself of empowering startups to get incorporated in any African country within a few minutes, and scale expansion in a matter of weeks. The startup has operations in countries like Nigeria, Kenya, Ghana, South Africa, Rwanda, Senegal, Togo, Tanzania, Ivory Coast, Egypt, Mauritius and Burkina Faso.

The incorporation-as-a-service startup claims to have made a 100% month-on-month transactional growth in the last six months. It has also recorded a 40% month-on-month growth in revenue in the same period.

Don’t miss any tech news ever!

We don’t spam! Read our privacy policy for more info.

726 posts

About author
When I'm not reading about tech, I'm writing about it, or thinking about the next weird food combinations to try. I do all these with my headphones plugged in, and a sticky note on my computer with the words: "The galaxy needs saving, Star Lord."
Articles
Related posts
Startups

Nigerian crypto startup - Bitmama - in talks to acquire Payday

1 Mins read
Nigerian cryptocurrency exchange platform Bitmama is engaged in discussions to acquire fintech startup, Payday, in a deal reported to be valued at…
Startups

Cameroonian health startup - Waspito - raises $2.5M to expand access to health services

2 Mins read
Cameroonian digital health startup, Waspito, has secured $2.5 million in new seed funding to continue its expansion across Africa. The startup aims…
ArticleArtificial IntelligenceRandomStartups

Handraise Raises $6.4M In Seed Funding

1 Mins read
Founded in 2023 by CEO Matt Allison, Handraise is an Austin-based AI company that specializes in providing an AI-driven platform designed for…
Newsletter Subscription

🤞 Don’t miss any update!

We don’t spam! Read more in our privacy policy

Join our Telegram channel here - t.me/TechpadiAfrica

Leave a Reply