Cascador Grants $5 million to Rapidly Growing Nigerian Startups, Supporting Expansion Efforts

Esther Oluku

Cascador, an Africa‑focused growth‑stage accelerator, announced on Wednesday that it had disbursed more than $5 million in funding to seven Nigerian companies during its 2026 Pitch Day.

The event, the second in the series, marks the end of Cascador’s annual catalytic fund cycle. The initiative provides up to $5 million per year in customised support—combining debt and equity—to alumni of the accelerator’s scale‑up programme, while celebrating the entrepreneurs who have progressed through its ecosystem.

Applicants were chosen for their capacity to multiply the value of capital, education and networks, as well as for their potential to generate social impact, including job creation and services for underserved communities.

Speaking at the Lagos‑based programme, Cascador founder Dave DeLucia noted that the pitch day has awarded more than $9 million to growth‑stage African founders in just two years, helping to build a new generation of entrepreneurs capable of scaling transformative businesses.

“We are now looking for the next cohort of exceptional founders to join our 2026 scale‑up programme and hope to see them on stage at the next pitch day,” he said.

The event drew over 300 investors, lenders, mentors and ecosystem builders, who engaged in high‑value conversations with founders scaling impactful companies across Nigeria.

Recipients of the fund this year include: Deina Mayaki (Agriarche) – Debt N2.5 billion ($1.7 million); Deborah Gael (Koolboks) – Debt N2 billion ($1.4 million); Okey Esse (Powerstove) – Debt N1.8 billion ($1.2 million); 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.

Agriarche’s Deina Mayaki, the largest recipient from the 2026 catalytic fund, shared her experience.

“Cascador’s scale‑up 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.

She added that the catalytic fund due‑diligence team evaluated Agriarche’s financial strength, resourcefulness and track record of success, and rewarded the company’s high potential for scale and impact with a new N2.5 billion credit facility to fuel its growth.