Nigerian fintech company Sycamore has secured a ₦1.5 billion ($935,614) investment from Cascador Nigeria’s Catalytic Fund, a significant milestone in the startup’s mission to broaden financial access across Africa. The announcement was made at Cascador’s 2025 Pitch Day, where Sycamore’s co-founder and CEO, Babatunde Akin-Moses, presented the company's journey and vision for financial empowerment. This fresh capital injection is poised to accelerate Sycamore’s growth and deepen its impact on individuals and businesses across the continent.
From Bedroom Startup to Fintech Force
Founded in 2018 by Babatunde Akin-Moses, Mayowa Adeosun, and Onyinye Okonji from a bedroom workspace, Sycamore has grown into a formidable player in Nigeria’s fintech sector, boasting a team of over 100 employees. The company has disbursed over ₦22 billion in loans and enabled customers to save more than ₦20 million, reflecting its steady rise in the financial services industry. Sycamore’s approach combines credit access, savings tools, and personalized support to address the unique needs of underserved populations and small enterprises.
A Mission Rooted in Financial Inclusion
At the heart of Sycamore’s operations is a deep commitment to financial inclusion, a principle that guides its expansion strategy and product development. By offering digital financial solutions tailored for individuals and SMEs, the platform bridges gaps in traditional banking and empowers users to achieve long-term financial stability. The new funding from Cascador Nigeria will strengthen Sycamore’s ability to scale these solutions across more African markets.
Recognition from Cascador Nigeria and Key Supporters
The Cascador Catalytic Fund recognizes startups that demonstrate both market traction and high-impact potential, and Sycamore stood out among this year’s finalists. The rigorous selection process culminated in a pitch event that Babatunde described as one of the most challenging yet rewarding experiences of his entrepreneurial journey. He acknowledged the support of Cascador’s team, Sterling Bank, and Sycamore’s staff—referred to as “Sytizens”—in achieving this major milestone.
Leadership with a Vision for Prosperity
Babatunde Akin-Moses, a passionate advocate for economic empowerment, leads Sycamore with a mission to make Africans more prosperous through access to financial growth tools. In a LinkedIn post following the announcement, he reflected on the rapid wave of congratulations and underscored the importance of perseverance and daily dedication. He also hinted at sharing deeper insights about the Cascador journey in upcoming posts, aiming to inspire fellow entrepreneurs.
Fueling Expansion Across Africa
With this ₦1.5 billion investment, Sycamore plans to bolster its technological infrastructure and expand its reach to new regions within Nigeria and beyond. The company envisions a future where more individuals and small businesses can thrive thanks to seamless access to credit and savings products designed for their realities. This funding marks a critical step toward realizing that vision and positioning Sycamore as a pan-African fintech leader.
The success at Cascador Nigeria’s Pitch Day signals more than just a financial boost for Sycamore—it represents validation of its mission and momentum for the future. With a strong team, proven impact, and now major backing, the company is well-positioned to scale its operations and amplify its reach across Africa. As Sycamore moves forward, it remains a compelling example of how locally driven innovation can unlock prosperity across the continent.