Cascador, Nigeria’s premier accelerator for mid-stage entrepreneurs, has announced a landmark partnership with Sterling Bank to launch a bold new debt funding model to unlock growth for Africa’s most promising ventures.
Backed by a $2 million Catalytic Fund, the partnership introduces flexible, founder-friendly financing for Cascador alumni; pairing low-interest debt with business mentorship, tailored repayment terms, and dramatically reduced collateral requirements.
“This is a breakthrough moment for Cascador and for the entrepreneurs we serve,” said Dave DeLucia, founder of Cascador.
“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,” he added.
Sterling Bank will serve as fund custodian and structuring partner, offering entrepreneurs access to a diverse portfolio of instruments.
This ranges from equipment loans to revenue-based financing, designed for mid-stage SMEs in sectors critical to Nigeria’s future – healthcare, logistics, education, manufacturing, agri-business, and financial inclusion.
The Managing Director and CEO of Sterling Bank, Abubakar Suleiman, said: “We are 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 prioritises impact over formality and progress over paperwork.
“We hope the fund presents a new model for capital deployment; one that other institutions and private investors across the continent can adopt to unlock the potential of Africa’s entrepreneurs.”
Unlike conventional lending, the Sterling-Cascador model emphasises trust, traction, and long-term viability.
Beneficiaries will enjoy custom repayment plans and reduced risk lending, supported by a first-loss guarantee from Cascador, and technical assistance from leading business advisors.
Applications for the Catalytic Fund opened on February 14 and would culminate in a high profile invitation-only Pitch Day on May 14, 2025, where finalists would present to an elite investment committee composed of business leaders, faculty advisors, and investment professionals.
Cascador would allocate both debt and equity funding based on impact, business viability, and long-term growth potential.
Additional partners include the Nigeria Sovereign Investment Authority (NSIA) and the Development Bank of Nigeria (DBN), who will sponsor innovation awards for top performing ventures at the Pitch Day event.
Since 2019, Cascador has supported over 60 entrepreneurs who have collectively raised more than $55 million and created thousands of jobs across the continent.
The launch of the Catalytic Fund, and the collaboration with Sterling Bank, represent a powerful new chapter in Cascador’s mission to strengthen Africa’s entrepreneurial ecosystem.
Entrepreneurs are encouraged to apply for admission to Cascador’s 2025 accelerator program and, ultimately, eligibility for the Catalytic Fund.
About Cascador
Cascador is an annual, intensive programme focused on developing mid-stage Nigerian entrepreneurs who are scaling mission-driven companies.
Through a unique blend of
education, mentoring, and personalised support, Cascador empowers entrepreneurs to make a positive impact through job creation, innovation, and development of opportunities for
underprivileged and marginalised communities. Learn more at cascador.org.
About Sterling Bank
Sterling Bank is a leading Nigerian commercial bank and one of Africa’s most progressive financial institutions, widely recognised for its bold approach to customer advocacy and ethical
banking.
From eliminating local transfer fees, through its OneBank platform, to championing inclusive access to capital, the bank has consistently led with impact.
Renowned for its HEART of Sterling strategy, which focuses major investments into the Healthcare, Education, Agriculture, Renewable Energy, and Transportation sectors of the Nigerian economy, Sterling
continues to build financial solutions that go beyond banking to enable dignity, mobility, and opportunity for millions of Nigerians.
Explore Sterling Bank offerings at sterling.ng.
