"The promise of the internet is that geography should be largely irrelevant. But that's not yet true: the majority of the world's population lives in a country where they don't have access to high quality banking or payments infrastructure,” said Patrick Collison, CEO of Stripe.
“There's a lot of latent potential in places like Africa, Latin America, Asia, and the Middle East; places where developers and entrepreneurs simply aren’t on a level playing field with people in more developed economies".
L5lab is pleased to announce that it is a part of the global network of incubators, accelerators, and investors partnered with Stripe on its new venture, Stripe Atlas.
Stripe Atlas is a new product that’s designed to make it easy for developers and entrepreneurs from almost anywhere to start global internet businesses.
In a few clicks, Atlas entrepreneurs can gain access to:
- An incorporated U.S. business entity.
- A U.S. bank account and tax ID number.
- A live Stripe account to receive payments from anywhere in the world.
- The basic services they need to get started; including tax advice from PwC, legal advice from Orrick, Herrington Sutcliffe, and tools and resources from Amazon Web Services, as well as $15,000 in AWS credits.
Atlas is initially offering incorporation in the U.S. and hope to expand the program to offer entrepreneurs the option of incorporating in a handful of other countries around the world over time. There’s more info about Atlas at stripe.com/atlas.
Stripe is a software platform for building and running a global internet business. It is currently in 24 countries. 17% of the world’s population can access Stripe, 1.2 billion of 7.2 billion people on the planet.
Stripe will be working with all their partners to ensure that Atlas is available to legitimate entrepreneurs and businesses -people who are serious about building a global, online business. We're not loosening or changing the fundamental criteria for establishing a business; we're taking things that are theoretically available to entrepreneurs around the world and removing artificial roadblocks so that they're actually available.
L5lab invests in building tech companies in Nigeria. Our notable portfolio companies include Jobberman.com, Cheki.com.ng and Kamdora.com. L5lab partnered with 88mph to create 440.NG seed fund and accelerator program and also co-invested in the Lagos Garage co-working space. L5lab is Atlas’ only Nigerian partner.
The official launch of Stripe Atlas was on February 24th 2016 in Barcelona, Spain.