Cascador Awards $5m to High-Growth Nigerian Startups, Backs Expansion Drive
Esther Oluku
Cascador, Africa-focused growth-stage accelerator, Wednesday, deployed over $5 million in funding to seven Nigerian businesses at its 2026 Pitch Day event.
The pitch day, the second in the series, is the culmination of its annual catalytic fund deployment cycle, a funding initiative that provides up to $5 million per year in tailored support to Cascador’s scaleup alumni through a blend of debt and equity investments, while celebrating the entrepreneurs who have grown through its ecosystem.
Finalists were selected based on their ability to absorb and multiply the value of capital, education and networks, as well as their potential for social impact, including job creation and service to underserved communities.
Speaking at the programme held in Lagos, the Founder of Cascador, Dave DeLucia explained that in just two years, the 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.
“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,”he stated.
This year’s event hosted more than 300 investors, lenders, mentors and ecosystem builders for high-value conversations with founders scaling impactful companies across Nigeria.
Among recipients of the fund are: Deina Mayaki (Agriarche) – Debt N2.5 billion ($1.7m); Deborah Gael (Koolboks) – Debt N2 billion ($1.4m); Okey Esse (Powerstove) – Debt N1.8 billion ($1.2m); Daniel Komolafe (First Electric) – Debt N500 million ($357,000); Femi Oyewole (Fortics) – Debt N200 million ($142,000); Preston Ideh (Stears) – Equity $450,000; and Yinka Iyinolakan (Indigenius AI) – Equity $250,000.
Deina Mayaki of Agriarche, the largest funding recipient from the 2026 catalytic fund, shared her experience.
According to her, “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, adding that they rewarded their high-potential for scale and impact by awarding a new N2.5bn credit facility to power their growth.
