Startbutton, a Merchant of Record (MoR) service that helps businesses expand across Africa, has announced its expansion into seven Francophone countries: Benin, Togo, Senegal, Mali, Burkina Faso, Guinea Conakry, and Cameroon. This move brings the company’s total footprint to 15 African markets, including Ivory Coast, Nigeria, Ghana, Kenya, Rwanda, South Africa, and Uganda.
The expansion signals growing interest in Francophone Africa as a business destination. With over 300 million people and strong trade ties to Europe, particularly France, the region presents opportunities for businesses looking to scale. However, cross-border payments and regulatory compliance remain key challenges, which Startbutton aims to address 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, the Norrsken-backed startup enables businesses to sell and accept payments in local currencies and manage local compliance without needing to establish local offices. The startup currently serves over 100 merchants across 25 countries in sectors like Travel and hospitality, financial services, gaming, and e-commerce. This expansion takes Startbutton’s footprint to 15 African countries, including Nigeria, Ghana, Tanzania, Rwanda, South Africa, and Uganda.
Startbutton’s transaction volume has surged over 400% year-on-year to more than $5 million per month, generating revenue through commissions on each transaction. Bolakale projects further growth, anticipating an additional $2 million in monthly transaction volume from expansion into the Francophone market.
A less saturated yet high-potential market
Bolakale views Francophone Africa as a market with strong economic potential and less competition compared to Anglophone Africa. He highlighted the region’s trade relationship with Europe, particularly France, as a key factor in creating opportunities for payment solutions and business expansion.
“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 said.
Compliance and payments: A key differentiator
In the cross-border payments space, companies like dLocal already serve businesses looking to process transactions in Africa. However, Startbutton is positioning itself differently by focusing not just on payment processing but also on regulatory compliance.
“Our differentiation lies in compliance-first expansion—helping businesses navigate complex regulatory landscapes while streamlining their payment flows,” Bolakale added. “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 focus on compliance is particularly relevant in Francophone Africa, where businesses expanding into new markets often face bureaucratic hurdles and tax complexities.
Read also: Paystack alumni have founded over fourteen African startups
The bigger picture
This expansion aligns with Startbutton’s broader goal of becoming an infrastructure provider for businesses operating across Africa. While payments remain its core offering, the company aims to position itself as a business expansion enabler, allowing companies to pay, get paid, and navigate regulatory challenges seamlessly.
With Francophone Africa attracting more attention from global and regional businesses, the region’s payments landscape is likely to evolve rapidly. How startups like Startbutton compete with established players and navigate regulatory complexities will be key to shaping the next phase of cross-border commerce in Africa.
