This week, Cascador Nigeria, an accelerator for mid-stage entrepreneurs, held its 2025 Pitch Day. Nigerian startups Sycamore, Drive45, Crop2Cash, and 24Seven emerged as standout winners, securing over ₦4 billion in financing.
This initiative aims to bridge the capital gap faced by impactful businesses in Nigeria. The fund offers tailored financial support, including blended financing solutions in partnership with Sterling Bank, to accelerate growth and enable sustainable scaling.
Below, we spotlight these startups and the work they’re doing across various sectors.
Crop2Cash
Founded in 2018 by Michael Ogundare, Emem Essien, and Seyi Alabi, the agritech provides smallholder farmers with access to digital banking, credit, insurance, and agricultural inputs.
In 2024, Crop2Cash secured €350,000 in funding from Village Capital’s Reducing Inequalities Investment Facility, aimed at expanding its services and enhancing financial inclusion for farmers. The startup has also attracted over $2 million in grant funding from organisations like USAID and JICA.
With a user base exceeding 400,000 across 15 Nigerian states, Crop2Cash continues to empower farmers by offering tools to manage their supply chains and improve productivity. The company’s mission has earned it recognition, including being named Best Agritech Startup at the Art of Technology Lagos Awards in 2021.
Sycamore
Access to credit has remained a major challenge for individuals and businesses across Africa, a problem that birthed Sycamore, a Nigerian fintech startup.
Founded in 2019 by Lagos Business School alumni Babatunde Akin-Moses, Onyinye Okonji, and Mayowa Adeosun, the platform connects lenders and borrowers through peer-to-peer lending, aiming to bridge the credit gap for Africans.
In 2024, Sycamore won the Nigeria Sovereign Investment Authority (NSIA) Prize for Innovation, receiving $100,000 to support its growth. The startup has come a long way from its first loan of ₦1.5 million and now serves more than 300,000 users. It has also evolved beyond a peer-to-peer lending platform and recently received a licence from Nigeria’s Securities and Exchange Commission that enables it to provide asset management services for its users.
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Drive45
Drive45, founded in 2021 by Seyi Adefemi and Soumobroto Ganguly, is a Nigerian startup revolutionising vehicle ownership. Recognising the challenges faced by Nigerians in accessing affordable and flexible vehicle financing, Drive45 offers a unique subscription model that allows individuals and businesses to access both brand-new and pre-owned vehicles without the financial burden of purchasing outright.
Drive45’s subscription service is tailored to suit both salaried employees and businesses. With monthly payments starting as low as ₦100,000, users can subscribe to a vehicle for a period ranging from three to six years, depending on their needs.
Business clients, such as Olam, Tolaram, and Eko Electricity Distribution Company, have already tapped into Drive45’s service, benefiting from the company’s ability to provide a scalable, hassle-free vehicle solution. For these businesses, the subscription model eliminates the need for large upfront capital expenditure, enabling them to focus on their core operations while Drive45 handles fleet management and maintenance.
24Seven
24Seven, founded by Olufemi Idowu, is a logistics startup based in Nigeria. The company operates as an asset-light marketplace, allowing small businesses and convenience stores to order inventory on credit with one-hour doorstep delivery. This innovative model directly addresses the challenges faced by small retailers, particularly in accessing timely and affordable stock replenishment.
The platform connects small retailers with a network of suppliers and delivery partners, streamlining the procurement process and ensuring efficient last-mile delivery. This approach not only saves time but also helps retailers maintain a steady flow of inventory without the financial burden of upfront payments.
In 2023, 24Seven was selected for the second cohort of the ARM Labs Lagos Techstars Accelerator. Since its inception, 24Seven has achieved significant milestones, including facilitating over $5 million in recorded sales and serving more than 4,000 retailers, 90% of whom are women.
