** For the best experience, download the free Africa Private Equity News app Android | iOS **
TLG Capital, a private credit firm operating across sub-Saharan Africa, has closed a $3 million senior debt facility for Drive45, a Lagos-based transportation company providing mobility solutions to international and local businesses across Nigeria.
Founded in 2021, Drive45 gives international and local businesses access to reliable transportation without the capital burden of vehicle ownership. Today, the company operates more than 170 active vehicles.
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 private credit with a guarantee provided by Cascador, delivered in partnership with Morgan Stanley. Cascador has delivered financial and non-financial resources to the company since Drive45 completed Cascador’s ScaleUp programme in 2024.
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, commented: “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, added: “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.”
The TLG Capital deal team comprised Aum Thacker and Rohan Subramanian.
Want to know who is raising, investing, and exiting in Africa? Get Africa Private Equity News’ monthly Dealmaker’s Log – a database of reported investment deals, exits, and fundraising closes. Access the Dealmaker’s Log here