NEW YORK--(BUSINESS WIRE)--Firstbase.io, the leader in democratizing entrepreneurship by helping founders from all over the world easily launch a U.S.-based business, today announced being part of the Y Combinator (Y.C.) Winter 2021 batch - including funding to accelerate growth. The company has also raised money from Earnest Capital and angel investors, including: Adam Wiggins (Founder of Heroku), Danny Olinsky (Founder of Statuspage), Luke Kanies (Founder of Puppet), Ben Bryant (Founder of Earbits), and others.
An increase in global unemployment over the past year amid the COVID-19 pandemic created a unique opportunity for entrepreneurs to start new businesses. New founders quickly realize just how much time, effort, and expertise is required to start a business on a global scale. The American startup ecosystem is ranked first globally, and Firstbase.io is dedicated to helping founders worldwide – both foreign and domestic – to easily and efficiently launch a business in the U.S.
"In a time of traditional job uncertainty, the opportunity for the creation of startups in the U.S. is enormous. The number of incorporations in the tech sector in the U.S. grew 30 percent in 2020 and E-commerce has grown 44 percent," said Mark Milastsivy, CEO and founder, Firstbase.io. "As a foreign-born founder myself, I had to go through many manual processes with banks and lawyers when initially starting a business, and I quickly realized that these situations could be extremely difficult to navigate. Our goal at Firstbase.io is to make the path to starting a new business in the U.S. easy for anyone and be a critical partner in the journey for every entrepreneur. We're excited to have the backing of top investors like Y Combinator who see our vision and the impact Firstbase.io is having on making entrepreneurship easier – especially in the age of remote work."
Firstbase.io helps entrepreneurs with everything they need to start a U.S. business, from filing paperwork to opening bank accounts. The company has already incorporated almost 5000 companies for founders in 160 countries, including some YC-backed companies.
"At Y Combinator, we have seen an explosion of interest from founders all over the world starting tech companies," said Jared Friedman, a Partner at Y Combinator. "No matter where they are physically, these founders usually want to incorporate their companies as U.S. corporations. Unfortunately, the process of starting a U.S. corporation from outside the U.S. is still too clumsy, and that's what Firstbase.io is solving. Firstbase.io is leading the charge in helping new founders navigate the challenging steps to becoming a legitimate business in the U.S., and we're thrilled to support their mission and believe they will have a massive impact on new businesses being started around the world."
Along with the investment, Firstbase.io is incorporating critical new features, including an Incorporation API to help partners of Firstbase.io provide a way for their customers to incorporate in the United States easily and efficiently.
"We have received dozens of emails from small companies and large enterprises asking about the ability to integrate the incorporation process with their applications,” said Milastsivy. “Historically, if you are building a US-based banking service, payment processing company, or any other B2B product in a highly regulated industry, you are limited to customers located in the U.S. But many companies have now realized that they can actually support a geographically distributed group of startups and digital businesses from all around the world by helping those companies incorporate here in the U.S. This is exactly the type of problem we are tackling with our new API."
Firstbase.io is a fully remote team of 20, fully distributed around the U.S. and the globe. Notable current partners include Amazon Web Services (AWS), Brex, Mercury, and Gusto.
"Firstbase.io is tackling a big problem involving multiple government bureaucracies," said Tyler Tringas, General Partner, Earnest Capital. "This kind of relentless focus on the details is the only way to make launching a business truly seamless."
To learn more about Firstbase.io, visit: https://firstbase.io/en/
About Firstbase.io
Firstbase.io is democratizing entrepreneurship by helping founders and around the world easily launch a U.S.-based business. Firstbase.io makes it easy for founders to incorporate their startup by creating a new entity to give founders the ability to raise venture capital, access seamless payment processing, and enjoy other benefits U.S. incorporation has to offer. Firstbase.io is making the process of creating a new corporation easier than ever before. Thousands of companies in over 160 countries have trusted Firstbase.io to incorporate their business.
