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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

Microsoft Server Hack Likely Solo Actor, Thousands at Risk

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A widespread cyberattack targeting Microsoft’s (MSFT.O) server software used by thousands of government agencies and businesses for internal document sharing was likely orchestrated by a single actor, a cybersecurity researcher said on Monday.

Microsoft Server Hack Likely Solo Actor, Thousands at Risk

Microsoft issued an alert on Saturday warning of “active attacks” on on-premise SharePoint servers.

The company clarified that SharePoint Online, part of the Microsoft 365 cloud suite, was not affected by the exploit, which is considered a “zero-day” vulnerability due to its previously undiscovered nature.

“Based on the consistency of the tradecraft seen across observed attacks, the campaign launched on Friday appears to be a single actor. However, it’s possible that this will quickly change,” Rafe Pilling, director of Threat Intelligence at Sophos, a British cybersecurity firm.

That tradecraft included the sending of the same digital payload to multiple targets, Pilling added.

Microsoft said it had “provided security updates and encourages customers to install them,” a company spokesperson said in an emailed statement.

It was not clear who was behind the ongoing hack. The FBI said on Sunday it was aware of the attacks and was working closely with its federal and private-sector partners, but offered no other details.

Britain’s National Cyber Security Centre did not immediately respond to a request for comment.

The Washington Post said unidentified actors in the past few days had exploited a flaw to launch an attack that targeted U.S. and international agencies and businesses.

According to data from Shodan, a search engine that helps to identify internet-linked equipment, over 8,000 servers online could theoretically have already been compromised by hackers.

Those servers include major industrial firms, banks, auditors, healthcare companies, and several U.S. state-level and international government entities.

“The SharePoint incident appears to have created a broad level of compromise across a range of servers globally,” said Daniel Card of British cybersecurity consultancy, PwnDefend.

“Taking an assumed breach approach is wise, and it’s also important to understand that just applying the patch isn’t all that is required here.”


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Flaw in Microsoft SharePoint Sparks Global Cybersecurity Concern

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A Microsoft SharePoint server software flaw is causing widespread concern across the global cybersecurity landscape, exposing thousands of organisations to hackers exploiting a new vulnerability.

This critical vulnerability exposes government agencies, universities, and energy firms who are at risk of cyberattacks. The flaw, now being actively exploited by unidentified hackers, allows attackers to gain deep, remote access to on-premise SharePoint servers.

The U.S. Cybersecurity and Infrastructure Security Agency (CISA) has confirmed that the vulnerability can enable malicious actors to access internal files, change configurations, and even execute remote code, effectively giving them high-level control over compromised systems.

Microsoft has also acknowledged the breach and released a security patch aimed at stopping the ongoing attacks. The firm urged users to apply the patch immediately, saying it is working to roll out additional protections, according to a statement reported by Bloomberg.

Despite these efforts, cybersecurity researchers warn that systems may remain vulnerable if attackers have already infiltrated networks, stolen authentication keys, or implanted persistent backdoors before patches were applied.

The United States hosts the highest number of these vulnerable systems, followed by the Netherlands, the United Kingdom, and Canada.

The Washington Post reported that the breach has already impacted a range of institutions, including U.S. federal and state agencies, academic institutions, energy companies, and a telecommunications firm in Asia.

This latest incident adds to a growing list of cybersecurity challenges facing Microsoft. In March, the company revealed that Chinese state-backed hackers had targeted its cloud-based services to infiltrate both U.S. and international organisations.

Last year, the U.S. Cyber Safety Review Board sharply criticised Microsoft’s internal security culture as ‘inadequate’ after a separate breach compromised its Exchange Online mail systems and exposed communications of high-level officials.


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NIMC Enrolls 122m for NIN, Cuts Extortion by 40 Percent

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National Identity Management Commission (NIMC) has said that it has reduced incidents of extortion and unofficial charges in the identity enrolment process by over 40 per cent.

NIMC Enrolls 122m for NIN, Cuts Extortion by 40 Percent

Abisoye Coker-Odusote, director general of NIMC,

Abisoye Coker-Odusote, director general of NIMC, who disclosed this  at an event in Lagos at the weekend, attributed the drop to improved transparency in fee structure at the commission.

The CEO was represented by Lanre Yusuf, director, Information Technology and Identity Database, NINC.

The workshop, organised by the identity regulator in partnership with the Guild of Corporate Online Publishers, focused on repositioning Nigeria’s digital identity landscape and combating misinformation.

According to Coker-Odusote, the sharp reduction in illicit charges is a direct result of reforms introduced by NIMC to curb racketeering and unauthorised payments, which have for years plagued the national identity registration process..

“Enrolment for the National Identification Number remains free. We have standardised modification and authentication fees, and these are publicly disclosed. Our enforcement of a transparent fee structure has resulted in a 40 per cent drop in extortion and unofficial charges,” the regulator said.

She explained that prior to her assumption of office, complaints about exploitative fees at enrolment centres were widespread, fuelling public distrust in the system.

However, she noted that the commission had since prioritised transparency and stakeholder accountability, ensuring that Nigerians no longer have to pay above the legally mandated fees. “We are addressing deep-rooted issues that once undermined public confidence in the enrolment process,” she said.

The NIMC chief added that the commission had introduced digital tools to reduce human interference in the registration process.

These include the NINAuth mobile app, the Self-Service NIN Enrolment and Modification app, and Contactless Biometric Solutions, all designed to make the system more efficient, secure, and user-friendly.

Coker-Odusote also reiterated the commission’s commitment to inclusion, stressing that no Nigerian should be left behind in the country’s digital identity transformation.

According to her, over 7,167 front-end enrolment agents and partners have been revalidated and retrained to serve the public professionally, with strict monitoring mechanisms now in place.

In addition, NIMC has deployed grievance redress officers across all 36 states to handle complaints from Nigerians about enrolment centres and agents, with a 24/7 toll-free line available to report any misconduct.

The reforms are part of broader efforts by the Commission to build a unified, secure, and people-centred digital identity system that facilitates access to government services, financial inclusion, social protection, and national planning.

Coker-Odusote called on media partners to support the Commission in disseminating accurate information, countering misinformation, and raising awareness about the benefits of digital identity.

“We are asking our partners in the media to help us combat fake news and promote transparency in the identity ecosystem. We need to ensure every Nigerian understands their rights and knows that their identity is key to accessing opportunities and services,” she said.


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