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Canadian pre-seed venture fund Panache Ventures has joined forces with Kora, a pan-African fintech company.
The partnership was announced at a recent event held in Lagos, co-hosted by both organizations.
“Securing funding is a major hurdle for many African tech entrepreneurs,” said Dickson Nsofor, CEO of Kora.
“Through this partnership with Panache Ventures, we aim to bridge that gap by offering mentorship, funding guidance, and fostering collaborations that will empower groundbreaking startups to reshape Africa’s technological landscape.”
Founded in 2017, Kora simplifies cross-border transactions within Africa. Their payment gateway allows businesses in countries like Kenya, Ghana, and Nigeria to accept payments in local currencies, regardless of the customer’s location.
Kora’s solutions extend beyond basic payments, catering to industries like gaming, hospitality, and e-commerce.
Notably, their USD card-acquiring feature, launched in March 2023, enables merchants to accept payments in US dollars.
Kora’s international presence is further solidified by their UK office, established in partnership with the West Midlands Growth Company in 2022.
Prashant Matta, General Partner at Panache Ventures and lead investor for Kora, also spoke at the event.
He highlighted the vibrant entrepreneurial spirit within Africa’s tech sector and emphasized the importance of fostering collaboration and knowledge-sharing to empower innovative startups across the continent.
Swiss development finance institution, SIFEM, has committed $15 million to the first close of Ninety One’s Africa Credit Opportunities Fund 3, which targets a total fundraising of $500 million.
Wingu Africa, a prominent data center operator in East Africa, has secured $60 million in funding from Rand Merchant Bank (RMB) to accelerate its expansion across the region.
Early-stage venture capital firm Launch Africa Ventures has launched its Mezzanine Impact Fund, a new initiative aimed at providing growth capital to technology companies in Africa and the Gulf Cooperation Council (GCC) region.