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Canada’s early stage VC fund Panache Ventures partner with Kora to secure more funding for startups across Africa

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Panache Ventures, a  Canadian-based early-stage venture capital fund, and Kora, a pan-African payment gateway, have partnered to empower tech founders across Africa to secure venture capital funding.

The deal is intended to address the persistent challenges faced by African tech entrepreneurs in accessing adequate funding to scale their groundbreaking ventures . Funding for African startups declined by 54 per cent to $2.5bn between January and October 2023 when compared to the same period in 2022 as indicated by Briter Bridges.

The CEO of Kora, Dickson Nsofor, commented that the partnership between Panache Ventures and Kora in hosting this event underscores shared vision of empowering tech founders and catalyzing Africa’s vibrant startup ecosystem .By fostering partnerships, providing mentorship, and providing guidance around funding opportunities, we aim to nurture groundbreaking startups that will redefine the technology landscape in Africa.”

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The announcement about the investment was made during the Venture Capital 101 event in Lagos. As the event host, Kora aimed to demonstrate its position as one of the pan-African payment gateways, facilitating seamless transactions across the region.

With a commitment to supporting tech founders and startups, Kora said it has been instrumental in driving innovation and economic growth in Africa.

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The General Partner at Panache Ventures, Prashant Matta said, “This gathering serves as a testament to the incredible potential and entrepreneurial spirit in Africa’s tech ecosystem. The collaborations and discussions from this event will shape the future of innovative startups across the region.”

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Milcah Lukhanyu
Milcah Lukhanyuhttps://techmoran.com
I cover tech news across Africa. Drop me an email at [email protected]

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