Startbutton’s Expansion: Unlocking Francophone Africa’s Business Potential

Mallick Bolakale, CEO of Startbutton, sees Francophone Africa as a high-potential market with fewer competitors than its Anglophone counterpart.

Startbutton, a Merchant of Record (MoR) service facilitating business expansion across Africa, has announced its entry into seven Francophone countries: Benin, Togo, Senegal, Mali, Burkina Faso, Guinea Conakry, and Cameroon. With this expansion, the company now operates in 15 African markets, adding to its existing presence in Ivory Coast, Nigeria, Ghana, Kenya, Rwanda, South Africa, and Uganda.

This expansion highlights the increasing appeal of Francophone Africa as a business hub. Home to over 300 million people and maintaining strong trade links with Europe, especially France, the region offers significant growth opportunities for businesses seeking to scale. However, navigating cross-border payments and regulatory compliance remains a major challenge—one that Startbutton aims to tackle through its Merchant of Record model.

Founded in 2023 by Malick Bolakale, a former compliance lead at Paystack, and Kelechi Oti, a former Microsoft engineer, Startbutton is a Norrsken-backed startup that helps businesses sell, process payments in local currencies, and manage compliance without setting up local offices. The company currently supports over 100 merchants across 25 countries in industries such as travel and hospitality, financial services, gaming, and e-commerce. With this latest expansion, Startbutton now operates in 15 African countries, including Nigeria, Ghana, Tanzania, Rwanda, South Africa, and Uganda.

Startbutton has seen a remarkable increase in transaction volume, rising over 400% year-over-year to exceed $5 million per month. The company earns revenue by taking a commission on each processed transaction. Bolakale expects this upward trend to continue, forecasting an extra $2 million in monthly transaction volume as the company expands into Francophone Africa.

A market with vast potential and minimal competition

Bolakale sees Francophone Africa as a promising market with significant economic potential and fewer competitors than its Anglophone counterpart. He emphasized the region’s strong trade ties with Europe, especially France, as a crucial driver of demand for payment solutions and business growth opportunities.

According to Bolakale, Francophone Africa remains a less crowded market compared to its Anglophone counterpart, yet it offers substantial economic potential. He noted that the region’s close trade ties with Europe, especially France, present distinct opportunities for payment solutions and business expansion.

Compliance and payments: A key differentiator

While companies like dLocal already facilitate cross-border transactions for businesses operating in Africa, Startbutton is taking a different approach. Rather than solely focusing on payment processing, the company aims to distinguish itself by integrating regulatory compliance into its offerings.

Bolakale emphasized that Startbutton sets itself apart by prioritizing compliance in business expansion. “Our focus is on guiding companies through complex regulatory frameworks while optimizing their payment processes,” he explained. “Unlike traditional payment processors, we don’t just facilitate transactions—we ensure businesses operate legally, adhering to local tax and compliance requirements.”

Ensuring regulatory compliance is especially crucial in Francophone Africa, where businesses entering new markets frequently encounter tax complexities and bureaucratic challenges.

The broader perspective

Startbutton’s expansion supports its larger vision of serving as a foundational infrastructure provider for businesses across Africa. Though payments are at the heart of its services, the company strives to go beyond transactions by facilitating business growth—helping companies send and receive payments while smoothly handling regulatory requirements.

As global and regional businesses increasingly turn their focus to Francophone Africa, the region’s payments ecosystem is poised for significant transformation. The ability of startups like Startbutton to compete with established players and effectively manage regulatory challenges will play a crucial role in shaping the future of cross-border commerce in Africa.

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