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Panache Ventures, an early-stage venture capital fund, and Kora, a pan-African payment gateway, have entered into a strategic partnership to empower tech founders across Africa to secure venture capital funding.
The alliance aims to address the persistent challenges faced by African tech entrepreneurs in accessing adequate funding to scale their groundbreaking ventures.
This disclosure was made during the Venture Capital 101 event in Lagos recently, where some of the tech leaders enlightened the audience on various aspects of the startup journey, including funding strategies, and ideas on how to build high-functional teams.
Some of the industry speakers at the event include: General Partner at Panache Ventures, Prashant Matta; CEO of Advancly, Lotanna Julian; CEO of Piggyvest, Somto Ifezue; and CEO and Founder of Quidax, Buchi Okoro.
The General Partner at Panache Ventures, Prashant Matta, shared his knowledge as a key player in the Canadian venture capital scene, leading the firm’s investment in Kora, a pan-African payment gateway.
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.”
The Nigerian startup scene witnessed a mix of setbacks and successes in 2023, as some emerging enterprises faced closures, while others attracted significant funding.
Among the noteworthy startups that closed shops last year were 54Gene, Pivo, Bundle, Vibra, Payday, Pillow, Lazerpay, Hytch, etc.
These closures were attributed to a myriad of factors, ranging from operational difficulties and co-founder conflicts to broader challenges of funding.
According to Briter Bridges, 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.
The CEO of Kora, Dickson Nsofor, stated,The collaboration between Panache Ventures and Kora in hosting this event underscores our 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.”
Kora, as the host of the event, showcased 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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