Ventures Funding Secure: Panache Ventures and Kora Make Bold Moves to Attract Investors

• Panache Ventures and Kora form a strategic partnership to help African tech founders secure venture capital funding.
• The collaboration addresses challenges faced by African tech entrepreneurs in accessing funding to scale their ventures.
• The partnership was announced during the Venture Capital 101 event in Lagos, featuring industry leaders sharing insights on funding strategies and team building.
• The Nigerian startup scene experienced closures and successes in 2023, with funding for African startups declining by 54% compared to the previous year.
• Panache Ventures and Kora aim to empower tech founders, nurture startups, and drive innovation in Africa’s technology landscape.

Panache Ventures and Kora: Securing Funding for Tech Founders in Africa

In the fast-paced world of technology and innovation, securing funding is crucial for the growth and success of startups. Panache Ventures, an early-stage venture capital fund, and Kora, a pan-African payment gateway, have joined forces to empower tech founders across Africa to secure the necessary venture capital funding. This strategic partnership aims to address the challenges faced by African entrepreneurs in accessing adequate funding to scale their groundbreaking ventures.

Empowering Tech Founders Through Strategic Partnerships

The collaboration between Panache Ventures and Kora was unveiled at the Venture Capital 101 event in Lagos, where industry leaders shared insights on funding strategies and building high-functional teams. The event served as a platform for tech entrepreneurs to learn from seasoned professionals, including Prashant Matta, General Partner at Panache Ventures, and Dickson Nsofor, CEO of Kora.

Prashant Matta, a key player in the Canadian venture capital scene, highlighted the immense potential and entrepreneurial spirit in Africa’s tech ecosystem. He emphasized the importance of nurturing partnerships and discussions to shape the future of innovative startups in the region. Matta’s investment in Kora, a leading pan-African payment gateway, underscores Panache Ventures’ commitment to supporting tech ventures in Africa.

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The State of the Nigerian Startup Scene

The Nigerian startup scene witnessed a mix of challenges and successes in 2023, with some emerging enterprises closing down while others attracted significant funding. Notable startups that faced closures included 54Gene, Pivo, Bundle, and Vibra, among others. These closures were attributed to operational difficulties, co-founder conflicts, and the broader challenge of funding. According to Briter Bridges, funding for African startups decreased by 54% to $2.5bn between January and October 2023 compared to the same period in 2022.

Dickson Nsofor, CEO of Kora, highlighted the importance of collaboration in empowering tech founders and catalyzing Africa’s startup ecosystem. By providing mentorship, fostering partnerships, and guiding founders on funding opportunities, Panache Ventures and Kora aim to nurture groundbreaking startups that will redefine the technology landscape in Africa.

Driving Innovation and Economic Growth Through Partnerships

As the host of the Venture Capital 101 event, Kora showcased its role as a pan-African payment gateway facilitating seamless transactions across the region. With a strong commitment to supporting tech founders and startups, Kora has been instrumental in driving innovation and economic growth in Africa. The partnership between Panache Ventures and Kora signifies a shared vision to empower tech entrepreneurs and create a vibrant ecosystem for startup success.

The collaboration between Panache Ventures and Kora represents a significant step towards securing funding for tech founders in Africa. By leveraging their expertise, resources, and networks, these two entities are poised to make a lasting impact on the continent’s startup landscape. As African entrepreneurs continue to innovate and disrupt industries, access to venture capital funding will be crucial in realizing their visions and driving sustainable growth.