Union Bank launches TechVentures, set to support tech start-ups in Nigeria

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Union Bank said it has launched TechVentures, which provides tailored services to technology companies to support tech-based businesses in various stages of their lifecycles.

The bank also noted that the scheme will provide technology businesses with services which include access to venture capital funding, business advisory and mentorship as well as accelerator partnerships.

The initiative was unveiled at TechPoint Build, which is a leading technology conference for tech experts, investors, start-ups and owners of tech-enabled businesses in Lagos.

The Head, Commercial Banking of Union Bank, Kunle Sonola, who spoke at the launch said the bank was focused on developing services that offer real value adding solutions for emerging and established sectors and ecosystems in Nigeria.

Sonola said TechVentures was designed in response to the emergence and accelerated growth seen in the tech space and to encourage more Small and Medium Enterprises (SME’s) to get into the technology sector.

According to him, “our goal is to capture these businesses from startup stage, when they are just nursing an idea, and support them until they build unicorns because we believe that these businesses will drive a new economy in Nigeria”.

He also said “we are committed to being Nigeria’s most reliable and trusted banking partner and remain focused on delivering the simplest smartest solutions and guaranteeing the best experience with a strategy focused on upskilled employees, optimized processes and platforms, robust technology and a re-energized brand”.

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