A startup backed by Norrsken, Startbutton, is launching in seven Francophone African countries to help businesses expand internationally without the need for physical offices. This expansion aims to assist more companies in entering these markets and accepting local payments.
Expanding into Francophone Africa is significant for startups seeking to grow their presence in this region without establishing physical offices. This area has become attractive to African startups due to its increasing middle-class population with disposable income. Despite the opportunities, foreign businesses often face challenges such as complex regulations, language barriers, and limited payment infrastructure. Startbutton aims to address these issues by facilitating local payments and enabling transactions in foreign currencies.
By leveraging local partnerships with banks and offering a Direct Currency Converter (DCC), Startbutton allows businesses to accept payments in local currencies while maintaining foreign currency pricing. This approach simplifies market entry, ensures compliance, and taps into a growing customer base interested in online transactions.
Startbutton’s CEO, Malick Bolakale, highlighted the company’s focus on compliance-first expansion and providing solutions beyond payment processing. The startup differentiates itself by assisting businesses in navigating regulatory challenges and meeting local tax requirements.
Startbutton processes over $5 million monthly, earning a commission on transactions. The startup plans to process an additional $2 million in the Francophone market and aims to become a key infrastructure for business expansion in Africa.
The startup serves various businesses across industries like aviation, gaming, and e-commerce, with licenses obtained in Nigeria and the UK. The next phase for Startbutton involves expanding its services to support seamless cross-border operations for companies.