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Norebase Secures $1M in Pre-seed Funding

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African tradetech company additionally launches incorporation API service to enable other companies to provide embedded incorporation services to their own customers on their website

Norebase, the African trade technology company building a single platform for businesses to start, scale and operate in any African country, has secured $1M pre-seed funding round, 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.

This raise 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.

Norebase is building Africa’s company and trademark platform that simplifies the start and scale processes for businesses in the continent and beyond.

Additionally, Norebase has launched Norebase Incorporation API, an API service enabling other companies to provide incorporation services to their own 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 who interact with registered businesses to eliminate any drop-off point in their product process, and eliminate 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 business in Nigeria, USA and Kenya with additional markets being added overtime.

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).

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.

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.

Africa’s startup space is rightly attracting the global business world’s attention as a region with enormous potential, and we are thrilled to connect new and existing businesses with the means with which they can scale their business in and beyond Africa more seamlessly.

The rapid acceleration of innovation across Africa and the growing attractiveness of new markets requires the know-how of a smoother cross-border expansion experience, and our team is the best at this.”

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, and Burkina Faso etc. It also recently started offering incorporation services in the U.S.

The company 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. Norebase is powering the growth ambition of several innovative companies so that innovators can focus entirely on their core business.

This is reflected in Norebase’s clients like Brass, Nestcoin, Patricia, Edenlife, GetEquity, Orda, Kloudcommerce, Send.ng, Workpay, Sudo Africa etc

Tola Onayemi continued, “We are delighted to be joined by a stellar roster of experienced and strategic investors, whose expertise will play a key role as we scale the Norebase goal of being partners for set-up, compliance, regulatory needs for both cross-border expansions and local markets. Given our global and Africa-wide ambitions, we consciously ensured our 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. 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.”

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 $2Billion 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.


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E-Business

Kaspersky Reveals Half of Dark Web Exploit Listings Target Zero-day Vulnerabilities

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Between January 2023 and September 2024, Kaspersky Digital Footprint Intelligence experts identified 547 listings to buy and sell exploits targeting software vulnerabilities.

These advertisements are posted on various dark web forums and shadow Telegram channels, with half involving zero-day and one-day vulnerabilities.

However, it is difficult to confirm whether these exploits are functional, as the dark market is rife with scams. Additionally, Kaspersky found that, on average, the cost of exploits for remote code execution vulnerabilities amounted to $100,000.

Exploits are tools used by cybercriminals to take advantage of vulnerabilities in various software programs, like those from Microsoft, to commit illegal activities, such as gaining unauthorised access or stealing data.

More than half of the dark web posts (51%) offered or sought to purchase exploits for zero-day or one-day vulnerabilities. Zero-day exploits target undiscovered vulnerabilities that software vendors have not identified and patched yet, while one-day exploits focus on systems that do not have the patch installed.

“Exploits can target any program, but the most desirable and expensive ones often focus on enterprise-level software. These tools enable cybercriminals to carry out attacks, which equate to substantial gains for them, such as stealing corporate information or spying on an organisation undetected.

However, some exploit offers on the dark web may be fake or incomplete, meaning they don’t function as advertised. Additionally, a significant portion of transactions are likely to occur in private.

These two factors complicate the assessment of the actual market volume for functional exploits,” explains Anna Pavlovskaya, Senior Analyst at Kaspersky Digital Footprint Intelligence.

The dark web market offers a wide array of different types of exploits. Two of the most widespread are those for RCE (Remote Code Execution) and LPE (Local Privilege Escalation) vulnerabilities.

According to an analysis of over 20 listings, the average price for RCE exploits is around $100,000, while LPE exploits typically cost about $60,000. RCE vulnerabilities are considered more dangerous, as they allow attackers to take control of a system or its components, or confidential data.

Dark web listings for buying and selling exploits, 2023-2024, where some offers can be repetitive. Source: Kaspersky Digital Footprint Intelligence

This year, the peak level in exploit sales and purchases occurred in May, with 50 relevant posts, compared to an average of about 26 per month in the period surrounding the surge. “Peaks in the exploit market’s activity are unpredictable and hard to link to specific events.

“Interestingly, in May, the dark web witnessed the sale of one of the most expensive exploits during the analysed period – allegedly, for a Microsoft Outlook zero-day vulnerability priced at nearly two million US dollars,” elaborates Anna Pavlovskaya.

“Overall, the exploit market remains stable; while activity fluctuates, the threat is always present. This highlights the need for cybersecurity hygiene practices, such as the regular patching and monitoring of digital assets on the dark web.”

 


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E-Business

Spotify Launches Offline Backup for Premium Users

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Spotify Premium users no longer need to suffer in silence when they’re offline and have forgotten to download tracks or playlists in advance.

The streaming music company says it’s adding an Offline Backup feature that’ll automatically display a playlist of available tracks that can be played offline even if they weren’t manually downloaded.

The feature will start rolling out this week on iOS and Android apps, and will work with Android Auto and Apple CarPlay, according to Spotify.

The company noted that the feature might be useful for people who are boarding a flight with no internet connection and realize they haven’t downloaded any music in advance.

Spotify says the playlist will be generated from tracks that are already in the user’s data cache, so it presumably wouldn’t take up additional storage space on a mobile device.

The playlist will show up when a user is offline, and can be filtered and sorted by artist, mood and genre.

The Offline Backup playlist changes over time and can be added to the user’s library for easy access.

The number of tracks in the playlist will vary based on how frequently subscribers use Spotify. Some Offline Backup playlists will contain hours of music.

Though the Offline Backup playlist hasn’t shown up yet on the Spotify Home feed on my iOS device, an option in settings for “Offline listening” under Storage was enabled by default.

Users have the option to remove downloads or clear their cache, but that could disrupt the playlist.

In order for offline listening to work, Spotify said, users should’ve listened to at least five songs recently.


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A Review of SanDisk Dual Drive Luxe USB Type-C Flash Drive

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The SanDisk Dual Drive Luxe USB Type-C is a versatile and stylish storage solution that caters to users looking for a practical way to transfer and store data across multiple devices. SanDisk, known for its reliable storage products, delivers a sleek dual drive that combines functionality with durability.

Key Features

  1. Dual Connector (USB Type-C & USB Type-A):

One of the standout features of this drive is its dual interface, which allows you to transfer files between devices with both USB Type-C and USB Type-A ports. This is perfect for those who switch between newer laptops or phones with USB-C and older machines or peripherals that rely on USB-A.

  1. Fast Transfer Speeds:

With the USB 3.1 Gen 1 technology, the Dual Drive Luxe offers fast file transfer speeds, with read speeds of up to 150MB/s. Whether you’re transferring large video files or backing up important documents, the speed ensures a smooth and efficient experience.

  1. Ample Storage Options:

The drive comes in various storage capacities, ranging from 32GB up to 1TB, making it suitable for different needs. Whether you are a casual user storing simple documents or a content creator managing large media files, there’s an option that will suit your requirements.

  1. Durable and Compact Design:

The all-metal, polished finish adds an element of elegance while making the drive durable enough for daily use. The capless swivel design also protects the connectors when not in use and ensures portability without worrying about losing parts.

Performance:

In real-world usage, the SanDisk Dual Drive Luxe performs exceptionally well, particularly when transferring large media files such as 4K videos or high-resolution images. The transfer speeds hold up as advertised when connected to a USB 3.1 port.

However, using the drive with older USB 2.0 ports will see a drop in speed, but that’s to be expected with legacy technology.

Switching between USB Type-C and USB Type-A is seamless, making it a perfect companion for professionals on the go, students, or media creators who need to transfer files between devices regularly.

Pros:

– Dual USB Type-C and USB Type-A support.

– Fast read and write speeds (up to 150MB/s).

– Durable, all-metal design.

– Available in large storage capacities (up to 1TB).

– Compact and portable.

Cons:

– It may heat up slightly during extended use, though not excessively.

Verdict:

The SanDisk Dual Drive Luxe USB Type-C is an excellent choice for anyone who frequently transfers data between devices. Its dual connectivity, speed, and storage options make it a practical and efficient solution for both professionals and casual users alike. The design is both stylish and reliable without compromising the nature of being portable.


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