The investment supports the company's next phase of growth while demonstrating TLG's innovative approach to financing high-quality African businesses, with Cascador playing a key role in structuring the transaction.
TLG Capital, a leading private credit firm operating across Sub-Saharan Africa, has closed a US$3,000,000 senior debt facility for Drive45 Mobility Limited (“Drive45”), a Lagos-based transportation company providing mobility solutions to international and local businesses across Nigeria. The investment strengthens Drive45's balance sheet and positions the company for its next phase of growth as demand for mobility services continues to increase across the country.
Founded in 2021, Drive45 has built a focused business aimed at closing Nigeria's mobility gap, giving international and local businesses access to reliable transportation without the capital burden of vehicle ownership. Today, the company operates more than 170 active vehicles and has recorded no payment defaults in five years of operation.
The facility will support Drive45's continued expansion, enabling the company to deploy more capital into fleet growth, broaden its customer base, and deepen its presence across Nigeria. In the coming years, it aims to increase its footprint to Port Harcourt, Abuja, Kano, Kaduna and other major business hubs across Nigeria.
The transaction combines TLG's flexible private credit with a guarantee provided by Cascador, delivered in partnership with Morgan Stanley. Through this innovative partnership, high-growth African businesses like Drive45 can access the institutional capital suited to their growth. Cascador has delivered financial and non-financial resources to the company since Drive45 completed Cascador's ScaleUp programme in 2024, and this transaction sees Cascador extend that support, this time through a creative financing mechanism.
Isha Doshi, Co-Founder and Partner at TLG Capital, said:
“Drive45 is a prime example of disciplined capital deployment to meet a clear market need. Oluwaseyi and his team have a very clear vision for what mobility can look like in Nigeria’s business community – and they have built a fantastic business around it. TLG is proud to support Drive45 in its expansion journey. This transaction also would not have been possible without Cascador. It’s easy to see how they’ve built an exceptional track record in Nigeria: they combine seasoned experience in the market with a relentless bias towards action. This is exactly the type of partner we look to grow with.”
Oluwaseyi Adefemi, CEO of Drive45, said:
“Mobility access is a capital business, so having the right financial backing is everything. TLG has been a thoughtful partner from day one. They took the time to understand how our business works and structured their capital to fit the growth trajectory we know is possible. Ultimately, their money goes directly towards our plans to reach more businesses across Nigeria. Just as important has been Cascador. They believed in Drive45 from our earliest days, gave us the tools and network to become investment-ready, and have worked alongside us every step of the way to help structure this financing. We're grateful to have them as long-term partners as we keep scaling,”
Trish Thomas, CEO of Cascador, said:
“So many investors focus on getting capital out the door without thinking about setting companies up for long-term viability. TLG is an exception: not only are they commercially-minded, but they have a unique drive to get things done with speed, imagination, and excellence. Funders looking for true economic impact in Africa should look to TLG as an execution-focused financing partner. This partnership is perfect for a company like Drive45. Oluwaseyi and his team have built a business with real corporate demand and the integrity to match it. That's exactly what Cascador exists to find, and it's been a privilege watching them grow into a business ready for commercial capital. We're thrilled to have played a part in getting them here, and we’re always looking for opportunities to elevate high-performing founders leading sustainable, impactful companies.”
TLG will continue to work closely with Drive45 following the investment through its value creation framework, partnering with management to strengthen governance, ESG monitoring, operational performance and strategic growth initiatives as the business continues to scale.
The Drive45 team was led by Oluwaseyi Adefemi. The TLG Capital deal team comprised Aum Thacker and Rohan Subramanian. Legal counsel for the transaction were Simon Harter, Hannaford Turner, and Wigwe and Partners. Cascador supported the transaction as guarantor and Drive45's accelerator partner.
About TLG Capital
TLG Capital is a leading private credit fund manager exclusively focused on sub-Saharan Africa. TLG has made 50+ investments and 30+ exits across 20+ African countries since its inception in 2012. TLG’s flagship fund, Africa Growth Impact Fund II (AGIF II), targets small-and-medium enterprises and is anchored by the IFC, Norfund, Swedfund, and Bpifrance. TLG is trusted by more than 100 institutional and individual investors across North America, Europe, Asia, and Africa. For more information, visit www.tlgcapital.com.
About Drive45
Drive45 Mobility is a Nigerian mobility company transforming access to vehicle ownership through a flexible rent-to-own vehicle subscription model. We enable individuals and businesses to access vehicles with manageable payments and minimal upfront capital. Our offering combines vehicle financing with insurance, maintenance, tracking, documentation, and fleet management. Drive45 is building a scalable pathway to affordable mobility and vehicle ownership across Africa. Learn more at www.drive45mobility.com.
About Cascador
Cascador is a Nigeria-focused platform for growth-stage founders, powered by the Empowering Economic Growth Foundation (EEGF), a US-based private operating foundation dedicated to strengthening Africa's entrepreneurial ecosystem. Since launching in 2019, Cascador has supported more than 70 ventures, which have collectively raised over $125 million in capital and created tens of thousands of jobs. Through its ScaleUp Programme and Catalytic Fund, a $5+ million annual financing vehicle launched 2025, Cascador equips growth-stage founders with mentorship, strategic advisory support, and access to debt, equity and credit guarantees. Learn more and apply at www.cascador.org.