Panache Ventures Partners Kora to Aid African Tech Founders Obtain VC Funding

Panache Ventures, a Canadian pre-seed venture fund, has entered a strategic partnership with Kora, an Africa-focused fintech firm, aimed at assisting African tech founders in securing venture capital funding.

The partnership was unveiled during a recent event in Lagos, Nigeria, co-hosted by Panache Ventures and Kora. It aims to address the challenges faced by African tech entrepreneurs in accessing funding, which often hinders their growth and expansion efforts.

During the event, Kora’s CEO, Dickson Nsofor, underlined the objective of the alliance with Panache Ventures. 

He said,

“Through forging partnerships, offering mentorship, and providing guidance concerning funding opportunities, our intention is to cultivate groundbreaking startups that will reshape Africa’s technology scene.”

Also speaking at the event, Prashant Matta, General Partner at Panache Ventures and leader of the firm’s investment in Kora,  acknowledged the strong entrepreneurial spirit within the African tech sector and emphasized that the collaboration and discussions arising from the event will be crucial for the growth of innovative startups in the region.

Founded in 2017, Kora serves as a payment gateway for local and global merchants, facilitating transactions across diverse African markets, including Nigeria, Ghana, and Kenya. The fintech platform supports multi-currency transactions, enabling businesses to receive payments in their local currency from customers in different countries. 

Beyond payments, Kora provides solutions tailored for industries such as gaming, betting, hospitality, e-commerce, and travel. Kora expanded its reach in 2022 by establishing a UK office in partnership with the West Midlands Growth Company, aimed at driving regional investment and economic growth for the West Midlands and the UK.

Additionally, in March 2023, the company introduced a USD card-acquiring feature, allowing users to accept USD payments.