Cascador, Nigeria’s leading accelerator for mid-stage entrepreneurs, has partnered with Sterling Bank to launch a $2 million Catalytic Fund. This fund aims to redefine debt financing for Africa’s most promising small and medium-sized enterprises (SMEs).
The initiative introduces flexible, low-interest loans exclusively for Cascador alumni. It pairs funding with mentorship, reduced collateral requirements, and tailored repayment plans. Unlike traditional loans, this model aligns with the actual cash flow patterns of growing businesses.
“This is a breakthrough for Cascador and the entrepreneurs we support,” said Cascador Founder Dave DeLucia. “We’re combining mentorship with capital that fits real-world business dynamics.”
Sterling Bank will serve as both fund custodian and structuring partner. Entrepreneurs will have access to tools such as equipment loans and revenue-based financing. These instruments target SMEs in sectors vital to Nigeria’s development, healthcare, logistics, education, manufacturing, agri-business, and financial inclusion.
“We’re delivering capital that’s flexible and grounded in the realities of doing business in Nigeria,” said Abubakar Suleiman, Sterling Bank CEO. “This isn’t just about money. It’s about building a support system that values impact over formality and progress over paperwork.”
In contrast to conventional lending, this model emphasizes trust, traction, and long-term potential. Cascador will provide a first-loss guarantee, while business experts will offer technical support. As a result, beneficiaries can access funding with reduced risk and greater confidence.
Applications for the Catalytic Fund opened on February 14, 2025. The process will culminate in an exclusive Pitch Day on May 14, where finalists will present their ventures. An elite panel of investors, faculty mentors, and business leaders will evaluate them. Funding decisions will consider impact, business strength, and growth prospects.
Furthermore, the Nigeria Sovereign Investment Authority (NSIA) and the Development Bank of Nigeria (DBN) will sponsor innovation awards. These will go to standout ventures showcased during the Pitch Day.
Since 2019, Cascador has supported more than 60 entrepreneurs. Collectively, they have raised over $55 million and created thousands of jobs across Africa. This new fund represents a major milestone in Cascador’s mission to expand Africa’s entrepreneurial ecosystem.
Entrepreneurs interested in the 2025 Cascador accelerator program are encouraged to apply. Successful applicants will also become eligible for the Catalytic Fund.
