Panache Ventures, a Canadian fund for new tech businesses, has teamed up with Kora, a fintech company focused on Africa, to help African tech founders get funding.
This partnership was announced at an event in Lagos, Nigeria, organised by Panache Ventures and Kora. It’s all about tackling the challenges African tech entrepreneurs face in getting funding, which often holds back their progress.
At the event, Somtochukwu Ifezue, CEO of PiggyVest, another fintech firm, hinted that his company might become public in a few years.
Kora, established in 2017, serves as a payment platform for local and global businesses, making transactions easier across Africa, including countries like Nigeria, Ghana, and Kenya.
Kora supports transactions in different currencies, allowing businesses to accept payments from customers in other African countries.
Aside from payments, Kora offers services for gaming, hospitality, e-commerce, and travel industries. They even launched a feature in March 2023 allowing users to accept USD payments through their platform.
In 2022, Kora expanded its reach by opening an office in the UK, in partnership with the West Midlands Growth Company, focusing on boosting investment and economic growth in the region.
At the event, Kora’s CEO, Dickson Nsofor, highlighted the goal of their partnership with Panache Ventures: to support and mentor startups in Africa’s tech scene, aiming to reshape the tech landscape on the continent.
Prashant Matta, General Partner at Panache Ventures, who leads the investment in Kora, also spoke about the entrepreneurial drive in Africa’s tech sector and how collaborations like these are crucial for fostering innovation.
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