Norebase, A Black-Owned Trade Tech Startup Has Raised $1M In A Pre-Seed Round
Norebase, the trade technology company building a single platform for businesses to start, scale and operate in any African country, has secured a $1M pre-seed funding round.
The company is laser-focused on building two-pronged platforms that offer 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).
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.
In addition, Norebase’s platform 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.
Pan-African funds Samurai Incubate and Consonance Investment led Norebase’s pre-seed round. Other VCs include Sahil Lavingia of Gumroad, Kinfolk VC, Future Africa, Ventures Platform, Microtraction, Boleh Venture, Voltron Capital, Wuri Ventures and Afropeneur.
The round also welcomed participation from well-known executives in Africa’s tech ecosystem, including Shola Akinlade, CEO of Paystack; Odunayo Eweniyi, PiggyVest COO; Adia Sowho, the CMO of MTN Nigeria; Seni Sulyman, CEO of BlackOps.
Tola Onayemi launched Norebase with Tope Obanla in September 2021.
It claims to have delivered 100% month-on-month growth in transaction volumes for the last six months. It reportedly has grown 40% month-on-month growth in revenue during this same period.
Norebase will put the funds into bettering its plug-and-play API, broadening its trademark registration technology stack, and hiring more talent, Onayemi told TechCrunch.