Editor’s note: African-Startups is a sister publication of EU-Startups, bringing trusted coverage of startups, venture capital, and innovation across Africa.
Seven founders building businesses across Nigeria walked away with more than $5 million in combined funding at Cascador’s second annual Pitch Day. Held in Lagos on 3 June 2026, the event cemented its position as the continent’s most consequential platform for growth-stage entrepreneurs with social impact ambitions.
The event, hosted by Cascador, an Africa-focused platform supporting founders building businesses with measurable social impact, drew over 300 investors, lenders, mentors, and ecosystem builders. The capital was disbursed through the organisation’s Catalytic Fund, an annual funding initiative that deploys up to $5 million in a combination of debt and equity to alumni of Cascador’s ScaleUp programme.
The largest single allocation went to Deina Mayaki of agribusiness company Agriarche, who received a $1.7 million (₦2.5 billion) debt facility. “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,” she said.
Deborah Gael of Koolboks received $1.4 million (₦2 billion) in debt financing, followed by Okey Esse of Powerstove with $1.2 million (₦1.8 billion). Daniel Komolafe of First Electric and Femi Oyewole of Fortics received $357,000 (₦500 million) and $142,000 (₦200 million) in debt, respectively.
Two founders received equity investments: Preston Ideh of data intelligence platform Stears secured $450,000, while Yinka Iyinolakan of Indigenius AI received $250,000.
“In just two years, Pitch Day has awarded more than $9M 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,” said Dave DeLucia, founder of Cascador.
The prize competition was judged by a distinguished panel comprising Iyin Aboyeji of Future Africa, Nneke Eze of Vested World, and Daniel Adeoye of Verod Capital Management. Beyond the primary funding, two special prizes of $10,000 each were awarded. Indigenius AI took home the NSIA Prize for Innovation, while Koolboks was recognised with the Best Pitch award by the judges’ panel.
Adeoye, who has now judged Pitch Day twice and served as faculty on the ScaleUp programme, offered a pointed assessment of what separates Cascador from traditional funding vehicles. “Capital readiness, not capital, is what turns funding into scale,” he said, describing the programme as “ecosystem architecture” rather than a conventional accelerator.
Two recipients from the 2025 Catalytic Fund also shared progress reports. Babatunde Akin-Moses of Sycamore noted that the company’s recent commercial paper raise was oversubscribed by 230 per cent, while Seyi Adefemi of Drive45 said Cascador had helped his company cross “the gap between potential and scale.”
Cascador’s ScaleUp programme has operated since 2019 and has supported 70 companies that have collectively raised over $125 million. Applications for the 2026 ScaleUp cohort remain open until June 15.
