By Juliet Umeh

An Africa-focused platform supporting growth-stage entrepreneurs building socially impactful businesses, Cascador, has deployed more than $5 million in growth capital to seven Nigerian entrepreneurs through its 2026 Pitch Day, reinforcing efforts to accelerate the growth of transformative businesses across the continent.

The funding was announced at the second edition of Cascador Pitch Day held in Lagos, where over 300 investors, lenders, mentors, ecosystem builders, and business leaders gathered to engage with entrepreneurs scaling innovative ventures across Nigeria.

The event marked the culmination of Cascador’s annual Catalytic Fund deployment cycle, a funding initiative that provides up to $5 million annually in tailored debt and equity financing to alumni of its ScaleUp programme.

This year’s beneficiaries secured investments spanning agriculture, renewable energy, financial services, artificial intelligence, media intelligence, and clean technology sectors.

Leading the recipients was Agriarche, founded by Deina Mayaki, which secured a N2.5 billion debt facility, the largest allocation from the 2026 Catalytic Fund. Other recipients included Koolboks, which received N2 billion; Powerstove, N1.8 billion; First Electric, N500 million; Fortics, N200 million; Stears, $450,000 in equity investment; and Indigenius AI, which secured $250,000 in equity financing.

Speaking on the impact of the programme, Mayaki said Cascador’s ScaleUp initiative helped strengthen Agriarche’s growth strategy and positioned the company for expansion.

“Cascador’s ScaleUp programme built upon my team’s ability to translate learning into action by helping us refine our message and market position, adjust our funding strategy, and adapt without defensiveness,” she said.

“The Catalytic Fund due diligence team assessed Agriarche’s financial strength, resourcefulness, and track record of success, and they rewarded our high potential for scale and impact by awarding a new N2.5 billion credit facility to power our growth.”

Founder of Cascador, Dave DeLucia, said the initiative was helping to build a new generation of entrepreneurs capable of scaling businesses that create economic and social value.

“In just two years, Pitch Day has awarded more than $9 million to growth-stage African founders, helping to build a new generation of entrepreneurs equipped to scale transformative businesses,” he said.

“We are now looking for the next cohort of exceptional founders to join our 2026 ScaleUp programme and hope to see them on stage at the next Pitch Day.”

According to him, Cascador’s ScaleUp Programme focuses on strengthening leadership capacity, sharpening business strategy, and preparing founders to scale sustainably.

Since its launch in 2019, Cascador has supported 70 companies that have collectively raised more than $125 million in funding.

The event also featured a competitive pitch session judged by leading investors and ecosystem leaders, including Iyin Aboyeji of Future Africa, Nneke Eze of Vested World, and Daniel Ayoade of Verod Capital Management.

Reflecting on his experience with the programme, Ayoade said the initiative addresses a critical gap often overlooked in entrepreneurship support.

“Two years judging Pitch Day, plus a season as faculty for the Cascador ScaleUp programme, taught me something term sheets never capture: capital readiness, not capital, is what turns funding into scale,” he said.

“The founders on stage today walk away with customer pipelines, team training, mentorship, and bespoke support — the connective tissue that allows them to multiply what they raise. This is not an accelerator. It is ecosystem architecture, and these founders are its proof.”

Beyond capital deployment, two entrepreneurs received special recognition during the event.

Indigenius AI won the NSIA Prize for Innovation, receiving a $10,000 award from the Nigeria Sovereign Investment Authority, while Koolboks received the judges’ Best Pitch Award, also valued at $10,000.

A key highlight of the event was a panel discussion titled “Innovative Capital Deployment Structures in Nigeria,” which brought together prominent voices from the investment, banking, venture capital, and public sector communities.

Panelists included Idris Bello of LoftyInc Capital, Danladi Verheijen of Verod Capital, Darlington Nwankwo of Sterling Bank, Ada Osakwe of Agrolay Ventures and Nuli, and Ijeoma Taylaur of the Nigeria Sovereign Investment Authority.

The discussion examined strategies for expanding access to patient capital, concessionary debt, working capital, and other financing models needed to support the sustainable growth of African businesses.

The event also showcased the progress of previous Catalytic Fund recipients.

Babatunde Akin-Moses, founder of Sycamore, said the funding support had strengthened the company’s growth trajectory.

“Truly catalytic capital should create companies that eventually no longer need it. That is what it did for Sycamore. Our recent commercial paper raise was oversubscribed by 230 per cent,” he said.

Similarly, Seyi Adefemi, founder of Drive45 and the largest beneficiary of the 2025 Catalytic Fund, credited Cascador with helping the company scale its operations.

“There are founders across Africa solving real problems and building resilient businesses. What they often lack is the financial and non-financial support needed to bridge the gap between potential and scale. Cascador helped Drive45 cross that gap,” he said.

The company said that applications for the 2026 Cascador ScaleUp Programme remain open until June 15, while encouraging growth-stage entrepreneurs across Sub-Saharan Africa to apply.

Cascador said it remains committed to supporting high-potential founders capable of creating jobs, serving underserved communities, and driving sustainable economic transformation across the continent.