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Startup Profile: Panacea — access premium books at cheap rates

November 20, 2017 · 1 min read
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Panacea is an e-library where readers can rent books/learning resources and connect with people of interest. Launched on July 1, 2017, the platform operates a sharing economy. This allows authors, students, publishers, academics and professionals to tap from one another’s reservoir of knowledge and earn money alongside.

For borrowers, instead of spending so much on obtaining several books of interest, they get to spend less while lenders make money sharing their resources.

Panacea website

According to the Founder, Philip, the platform is uniquely designed to enhance a great reading experience. Hence it has integrated user community features like StudyMates and BookClubs, as well as a reward system that makes learning fun and profitable for readers, authors, publishers and all book lovers.

In 2016, Panacea hit a noteworthy milestone by emerging one of the 1000 businesses selected to benefit from the Tony Elumelu Entrepreneurship Programme (TEEP) from over 45,000 entries across Africa. This has only helped to intensify Panacea’s vision of becoming the gateway for a vast collection of eBooks, journals, technical papers, conference publications and magazines for the academic and business community.

Panacea capitalises on ease of use, referrals incentive, exclusive access to premium books as its distinctive edge over other similar players. Thanks to its sharing economy, readers also get to access more books for less and authors get better rewarded for their works.

We believe that by sharing instead of owning everyone can enjoy lower costs, instant access and flexibility. Hence, we operate as an electronic book lending library where readers can access what they need with a freemium subscription model. With as little as 200 naira (0.6 dollar) you can have full access to a textbook or any resource of choice for 30 days. 

Co-founded by Olugbenga Odeyemi (CEO) and Philip Amiola (COO), the startup operates from Wennovation hub, their base in Ibadan.

If you are a book enthusiast, you should check out Panacea. Visit the website immediately.


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Grace Akinosun

Grace Akinosun

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Girl ... with a pen. Content Creator.

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