Cascador, an Africa-focused accelerator program dedicated to empowering Nigerian entrepreneurs and driving business growth in Africa, has announced a strategic partnership with Sterling Bank to boost funding for African SMEs and promote financial inclusion in Nigeria through an innovative funding model aimed at Africa’s top mission-driven ventures.
$2 Million Funding for African SMEs
Backed by a $2 million fund, the collaboration is set to provide Cascador alumni with flexible financing options. These include low-interest loans, business mentorship, customized repayment plans, easy business loans in Nigeria, and accessible financing for startups with minimal collateral requirements, ensuring entrepreneurs can scale their businesses with greater ease.
“This is a breakthrough moment for Cascador and for the entrepreneurs we serve. Through our partnership with Sterling Bank, we’re deploying capital in a way that’s truly catalytic, pairing mentorship and education with access to capital that’s structured around the real-life cash flows of growing businesses,” said Dave DeLucia, Founder of Cascador.
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Financial Inclusion and Business Growth
As the fund custodian and structuring partner, Sterling Bank will offer a range of financial instruments designed to support mid-stage SMEs across vital sectors such as healthcare, logistics, education, manufacturing, agri-business, and financial inclusion. Entrepreneurs will gain access to equipment loans, revenue-based financing, and more.
“We’re proud to support purpose-driven entrepreneurs with capital that meets them where they are, flexible, affordable, and designed around the realities of building a business in Nigeria. This isn’t just about funding; it’s about creating a new kind of financial support system that prioritizes impact over formality and progress over paperwork,” said Abubakar Suleiman, Managing Director of Sterling Bank.
Apply Now for Business Funding in Nigeria
Apply now to access business funding in Nigeria, leading up to an exclusive pitch event scheduled for May 14, 2025. During this high-profile event, selected finalists will present their business cases to an investment committee comprising industry leaders, faculty advisors, and seasoned investors. Funding decisions, both debt and equity, will be based on business impact, scalability, and long-term growth potential.
Strategic Partnerships for Entrepreneurial Success
Additional strategic partners include the Nigeria Sovereign Investment Authority (NSIA) and the Development Bank of Nigeria (DBN), both of which will sponsor innovation awards for top-performing ventures during the Pitch Day event.
Since its inception in 2019, the African startup accelerator, Cascador, has supported over 60 entrepreneurs who have collectively raised more than $55 million and created thousands of jobs across Africa. The launch of the Catalytic Fund, in collaboration with Sterling Bank, marks a significant milestone in Cascador’s mission to strengthen Africa’s entrepreneurial ecosystem.
