Norebase, a Nigerian digital infrastructure platform and trade tech startup led by Tola Onayemi, has raised $1 million in a pre-seed round to expand its technology infrastructure and operations across the continent.
The $1-million investment will be critical to Norebase’s strategic growth plans as it will broaden the startup’s technology infrastructure, bolster its existing team of world-class talent and accelerate plans to build a plug-and-play company incorporation technology in Africa.
The tech startup is laser-focused on expanding its reach in East Africa, as it prepares to onboard in Rwanda in the next few days as part of its strategic expansion plans, which will see it consolidate its operations in Kenya and Tanzania.
Onayemi, a Nigerian tech entrepreneur, founded Norebase in 2019 as a single infrastructure for Africa-wide expansion, with the goal of assisting founders and entrepreneurs in starting, scaling and operating their businesses in every African country, as well as the United States.
Since 2019, it has assisted founders in Ghana, Kenya, South Africa, Nigeria, Rwanda, Senegal, Ivory Coast, Togo, Tanzania, Egypt, Mauritius and Burkina Faso, and it has recently begun offering incorporation services in the United States.
In the past six months, it has seen a 40-percent month-on-month increase in revenue driven by a 100-percent month-on-month increase in transaction volumes on its platform thanks to its diverse client base, which includes fast-growing tech startups like Brass, Nestcoin, Patricia, Eden Life, GetEquity, Orda, Kloudcommerce, and others.
It recently launched Norebase Incorporation API, an API service that allows other businesses to provide incorporation services to their own customers through their websites.
Onayemi said he is delighted to be joined by a stellar roster of experienced and strategic investors, whose expertise will play a key role as Norebase scales on its goal of being partners for setup, compliance and regulatory needs for both cross-border expansions and local markets.
In his comments on the company’s operations, Onayemi said Norebase is constructing a future in which starting or expanding a business in any African country is as simple as clicking a single button, and that the team is building the single digital infrastructure and technology tools that will power trade across the continent.
