Kora and Panache Ventures of Canada collaborate to help African tech founders get VC funding. Panache Ventures, a Canadian pre-seed venture fund, has teamed up with Kora, a fintech company focused on Africa, to support technology entrepreneurs in Africa in securing venture capital funding.
Kora and Panache Ventures of Canada Collaborate
The collaboration, announced during a recent event in Lagos, Nigeria, hosted by Panache Ventures and Kora, aims to address the funding challenges that African tech entrepreneurs often face. These challenges can hinder their operations and growth prospects.
At the same event, Somtochukwu Ifezue, CEO of PiggyVest, another fintech company, mentioned the possibility of the company going public through an IPO in a few years.
What is Kora
Founded in 2017, Kora serves as a payment gateway for local and global merchants, facilitating transactions across various African markets, including Nigeria, Ghana, and Kenya. The fintech platform supports multi-currency transactions, enabling businesses to receive payments in different currencies from customers across Africa.
Kora’s solutions span various industries such as gaming, betting, hospitality, e-commerce, and travel. Additionally, it introduced a USD card-acquiring feature in March 2023, allowing users to accept payments in US dollars.
Kora Opens A UK Office in Partnership with the West Midlands Growth Company
In 2022, Kora expanded its operations by opening a UK office in partnership with the West Midlands Growth Company, which focuses on driving investment and economic growth in the West Midlands region and the UK as a whole.
What Kora’s CEO Has To Say About This Development
Kora’s CEO, Dickson Nsofor, at the event, emphasized the goal of Kora’s partnership with Panache Ventures, saying, “By fostering partnerships, providing mentorship, and providing guidance around funding opportunities, we hope to nurture groundbreaking startups that will redefine the technology landscape in Africa.”
Prashant Matta, the General Partner at Panache Ventures, who spearheads the firm’s investment in Kora, was among the speakers at the event.
Matta commended the entrepreneurial drive evident in Africa’s tech industry and emphasized the importance of collaborations and discussions at the event for fostering innovation among startups across the region.
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