TLG Capital, a private credit firm operating across Sub-Saharan Africa, has closed a $3 million senior debt facility for Drive45 Mobility, a Lagos-based transportation company that provides vehicles to businesses across Nigeria. The facility strengthens Drive45’s balance sheet as demand for corporate mobility services continues to grow in the country.
Founded in 2021, Drive45 gives international and local businesses access to reliable transportation without requiring them to own vehicles outright.
The company currently runs more than 170 active vehicles and has recorded no payment defaults across five years of operation. With the new facility, Drive45 plans to grow its fleet, expand its customer base, and extend into Port Harcourt, Abuja, Kano, Kaduna, and other major business hubs.
The deal combines TLG’s private credit with a guarantee from Cascador, delivered in partnership with Morgan Stanley. Cascador has supported Drive45 since the company completed its ScaleUp programme in 2024, and this transaction extends that relationship.
Isha Doshi, Co-founder and Partner at TLG Capital, said Drive45 reflects disciplined capital deployment against a clear market need, crediting CEO Oluwaseyi Adefemi and his team with building a strong business around that need. She also credited Cascador’s track record in the Nigerian market as central to making the transaction possible.
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Adefemi said mobility access depends on the right financial backing and described TLG as a partner that took time to understand Drive45’s business and structure capital around its growth plans. He also credited Cascador with supporting the company from its early days through to this financing.
Trish Thomas, CEO of Cascador, said TLG stood out for combining commercial discipline with speed and execution, calling the partnership well suited to a company like Drive45. She said Cascador remains focused on identifying founders building sustainable, high-performing companies across the continent.
TLG will continue working with Drive45 following the investment, supporting governance, ESG monitoring and operational performance as the company scales. Adefemi led the Drive45 team, while TLG’s deal team included Aum Thacker and Rohan Subramanian. Legal counsel on the transaction included Simon Harter, Hannaford Turner and Wigwe and Partners.
Last updated: September 9, 2026
