Startbutton, a Merchant of Record (MoR) service dedicated to facilitating business expansion across Africa, has announced its strategic entry into seven Francophone countries: Benin, Togo, Senegal, Mali, Burkina Faso, Guinea Conakry, and Cameroon. This expansion increases the company’s operational reach to a total of 15 African markets, which already includes Ivory Coast, Nigeria, Ghana, Kenya, Rwanda, South Africa, and Uganda.
This move reflects a growing recognition of Francophone Africa as an attractive business destination. With a population exceeding 300 million and robust trade connections to Europe—especially with France—the region offers significant opportunities for businesses aiming to scale their operations. However, challenges such as cross-border payments and regulatory compliance persist, and Startbutton is committed to addressing these issues through its Merchant of Record model.
Founded in 2023 by Malick Bolakale, a former compliance lead at Paystack, and Kelechi Oti, an ex-Microsoft engineer, Startbutton is backed by Norrsken. The startup empowers businesses to sell and accept payments in local currencies while managing local compliance requirements without the necessity of establishing physical offices in those markets. Currently, Startbutton serves over 100 merchants across 25 countries, spanning various sectors including travel and hospitality, financial services, gaming, and e-commerce.
A Less Saturated Yet High-Potential Market
Bolakale perceives Francophone Africa as a region with considerable economic potential and relatively less competition compared to its Anglophone counterparts. He emphasized the significance of the region’s trade ties with Europe, particularly France, as a catalyst for creating unique opportunities for payment solutions and business growth.
“Francophone Africa has a strong trade relationship with Europe, particularly France, creating unique payments and business expansion opportunities. The region is less saturated than Anglophone Africa but holds significant economic potential,” Bolakale remarked.
Compliance and Payments: A Key Differentiator
In the realm of cross-border payments, companies like dLocal have established themselves by offering transaction processing services in Africa. However, Startbutton is carving out a distinct niche by emphasizing not only payment processing but also regulatory compliance.
“Our differentiation lies in compliance-first expansion—helping businesses navigate complex regulatory landscapes while streamlining their payment flows,” Bolakale explained. “Unlike pure payment processors, we enable businesses to operate legally and seamlessly, ensuring they don’t just process payments but also meet local tax and regulatory requirements.”
This compliance-centric approach is particularly crucial in Francophone Africa, where businesses venturing into new markets often encounter bureaucratic obstacles and tax complexities.
The Bigger Picture
This expansion is part of Startbutton’s broader ambition to become a vital infrastructure provider for businesses operating throughout Africa. While payment processing remains its core service, the company aspires to position itself as a facilitator of business expansion, enabling companies to manage payments, receive funds, and navigate regulatory challenges with ease.
As Francophone Africa garners increasing interest from both global and regional businesses, the payments landscape in the region is poised for rapid evolution. The ability of startups like Startbutton to compete with established players and effectively navigate regulatory complexities will be pivotal in shaping the future of cross-border commerce across the African continent.
