Cascador has awarded more than $5 million in growth capital to seven African entrepreneurs through its 2026 Pitch Day, held on June 3 in Nigeria.
The event, now in its second year, was attended by over 300 investors, lenders, mentors and ecosystem stakeholders to engage with founders building and expanding businesses across different sectors.
Pitch Day is the final stage of Cascador’s annual Catalytic Fund programme, through which the organisation provides financing and support to founders who have completed its ScaleUp programme.
Funding is offered through a mix of debt and equity investments, with recipients selected based on business performance, growth potential and expected social impact.
The largest funding allocation went to Agriarche, led by Deina Mayaki, which secured a ₦2.5 billion debt facility. Koolboks, founded by Deborah Gael, received ₦2 billion, while Powerstove, led by Okey Esse, secured ₦1.8 billion.
Other debt recipients included First Electric, which received ₦500 million, and Fortics, which secured ₦200 million. Two companies received equity investments, with Stears obtaining $450,000 and Indigenius AI receiving $250,000.
Speaking after receiving the funding, Mayaki said the support would help boost Agriarche’s expansion plans.
“Cascador’s ScaleUp program 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.Â
“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 today by awarding a new N2.5 billion credit facility to power our growth.”
Cascador founder Dave DeLucia said the programme has now distributed over $9 million to entrepreneurs since Pitch Day was introduced two years ago.
“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.
“We’re now looking for the next cohort of exceptional founders to join our 2026 ScaleUp program and hope to see them on stage at the next Pitch Day.”
Beyond the investment awards, organisers also recognised outstanding participants. Indigenius AI received the NSIA Prize for Innovation, which came with a $10,000 award, while Koolboks won the judges’ Best Pitch prize and received an additional $10,000.
The event also featured a panel discussion on financing options for growth-stage businesses in Nigeria. Participants 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 NSIA.
The session examined how businesses can access equity financing, working capital, concessionary debt and other forms of long-term support.
Daniel Ayoade of Verod Capital Management, who served as one of the judges, alongside Iyin Aboyeji of Future Africa and Nneka Eze of Vested World, said his involvement with the programme had shown the importance of preparing founders before funding is provided.
“Two years judging Pitch Day, plus a season as faculty for the Cascador ScaleUp program, taught me something the term sheets never capture: capital readiness, not capital, is what turns funding into scale.Â
“The founders on stage today walk away with customer pipelines, team training, mentorship, and bespoke support, the connective tissue that lets them multiply what they raise. This is not an accelerator. It is ecosystem architecture, and these founders are its proof.”
Two previous beneficiaries of the Catalytic Fund also shared updates on their businesses.
Babatunde Akin-Moses, founder of Sycamore, said the support received from Cascador helped strengthen the company ahead of a recent fundraising exercise.
“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%.”
Drive45 founder Seyi Adefemi said access to both funding and strategic support helped the company move beyond a critical growth stage.
“There are founders across Africa solving real problems and building resilient businesses. What they often lack is the financial and non-financial support to cross the gap between potential and scale. Cascador helped Drive45 cross that gap.”
Since launching in 2019, Cascador says it has supported 70 companies that have collectively raised more than $125 million.
Applications for the next ScaleUp programme are open until June 15 for founders across sub-Saharan Africa seeking funding, mentorship and business support.
