Laboremus

Established in 2013 as a Norwegian-Ugandan joint venture, Laboremus operates as a business-to-business fintech firm headquartered in Kampala, Uganda, with an additional office in Oslo, Norway. The company was co-founded by Timothy Musoke, a Ugandan computer engineer with experience in the US financial sector at institutions like JP Morgan, and Marius Koestler, a Norwegian entrepreneur with deep experience in technology and East Africa. Musoke's vision was to build complex software solutions in Uganda for the local and international market, a goal that materialized when the founders connected.

Laboremus provides the digital infrastructure necessary for financial institutions to streamline operations and enhance financial inclusion across Africa. The company targets banks, credit providers, insurance companies, and other fintechs, addressing the structural inefficiencies that hinder access to financial services on the continent. Its business model is based on a Software-as-a-Service (SaaS) platform, with a flexible pricing structure where clients pay per verification performed, rather than fixed subscription tiers.

The core offering is the 'Streamline' platform, a robust infrastructure for digital Know Your Customer (KYC) and Know Your Business (KYB) processes. This platform enables financial institutions to automate the verification of customer identities against official government databases, such as Uganda's National Identification and Registration Authority (NIRA). Features include identity verification, anti-money laundering (AML) checks, and digital customer onboarding through various channels like web portals, mobile apps, WhatsApp, and USSD. By digitizing what is often a paper-based, manual process, Laboremus allows its clients to onboard new customers in minutes, significantly reducing paperwork, operational costs, and the risk of financial fraud. This efficiency has demonstrably helped clients, such as one Tier 1 Ugandan bank, increase new customer acquisition by 20%.

Initially a software consulting firm, Laboremus has since focused its expertise on the financial sector, leveraging its experience from developing solutions for the European market to serve African institutions. The company has secured funding from impact investors like DOB Equity and FCA Investments to fuel its expansion across Africa. Notable clients include Standard Chartered, Equity Bank, dfcu Bank, and the pan-African fintech Wave.

Keywords: KYC verification, KYB solutions, digital onboarding, financial inclusion Africa, fintech infrastructure, identity verification API, anti-money laundering compliance, RegTech Uganda, customer onboarding automation, B2B fintech, digital lending solutions, financial fraud prevention, bank process automation, NIRA verification, credit access technology, digital financial services, East Africa tech, Timothy Musoke, Marius Koestler, Streamline platform, automated compliance, digital signature, loan origination