The Blood Company
Rather than make up a whole new world, we will adventure in the familiar landscape of Western Europe. The Urals are a an impassable barrier between the civilized world and the unexplored land of giants. North Africa is populated, but Sub-Saharan Africa is largely unknown to the PC races. No one has crossed the western ocean.
The principal government is the Roman Empire which governs most of western Europe. The Empire is based in Rome and extends west to Hispania, north to the North Sea, east to the Caspian Sea and south to the coastlands of Africa. Some of those areas are very Romanized, others still have their original cultures, but swear allegiance and pay tribute to Rome.
The dark forests of Germania are controlled by barbarian tribes of wild elves. satyr minotaurs and centaurs. They roam the forests between the Carpathians and the Urals. They are constantly at war over territory with orcs, dwarves, the Romans and even among themselves. However, the various tribes do not cooperate easily and they rarely leave their own lands.
The British Isles, originally held by the elves, were conquered by Rome, but then returned to the high elves. Since the departure of the legions centuries ago, humans are only allowed into port cities in the south and few have been allowed into the interior.
The icy Scandinavian lands are home to the barbaric orc hordes. Although they mostly battle with the elves over the steppes of western Russia, pirate raids on human lands in Gaul are a growing menace.
The Urals are a much larger mountain chain akin to the Himalayas and they separate human lands from the land of the giants. The mountains (and under them) are controlled by the dwarves. They are a xenophobic race that constantly war with the giants.
The north coast of Africa is shared between humans and the Leonin. The Leonin are client kings under Roman stewardship who encourage trade. In fact, the merchant centers make N. Africa the most cosmopolitan region of the world. Only elves and orcs, who do little trading, are rare here.