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. 

“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. 

“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.

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Founded on the principles of mentorship, education, and personalized support, Cascador offers a scalable experience aimed at enabling strong leadership and strategic growth plans.

For six years, Cascador has driven numerous entrepreneurs and their ventures to new heights. Through a holistic approach encompassing education, mentoring, pitch training, and tailored assistance, past participants have been highly successful, collectively raising over $55 million in capital.

Benefits

Asides the professional development stipend of $5,000 for professional development and business capital, to be received upon program completion, entrepreneurs stand a chance to receive the following benefits:

● Business Scale: The program offers a powerful combination of a one-week intensive in-person session in Lagos, Nigeria, coupled with six months of mentorship to help you develop a strategic plan for business scaling.
● Transformative Leadership Development: The program gives you the skills and knowledge to become a strong and transformative leader, prepared to drive your company towards success.
● Access to Networks, Resources, and Capital: Cascador connects you with valuable industry connections, resources, and potential capital to execute your strategic plan and achieve your business goals.

Eligibility

Cascador targets mid-stage entrepreneurs who have been in operation for a minimum of two years, with a good record of annual revenue exceeding ₦50 million.

With a focus on scalability and mission-driven initiatives, the program seeks individuals prepared for significant growth and impact within their respective industries.

Participation is limited to a cohort size of 10 entrepreneurs, ensuring personalized attention and meaningful engagement throughout the program.

How to Apply

Interested entrepreneurs can apply for the Cascador 2024 cohort by submitting applications before the deadline.

Early acceptance applications are due by April 30th, with late applications accepted until June 30th. Upon review, semi-finalists will be required to submit financial documents, followed by interviews for finalists.

The program tops off in a power-packed week from November 4th to 8th, 2024, hosted at Lagos Business School.

Participants must commit to the entirety of the in-person intensive, supplemented by pre-program preparatory sessions and six months of follow-up mentoring.

Cascador covers all lodging and meals during the intensive week.

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