Drive45 Mobility Obtains $3 Million Funding for Growth

Nigerian startup Drive45 Mobility has secured a US$3 million debt facility from TLG Capital, marking a significant milestone in its mission to transform vehicle ownership access across the country.

Founded in 2021, Drive45 offers a flexible rent-to-own subscription model that enables individuals and businesses to acquire vehicles with manageable payments and minimal upfront investment. The company’s comprehensive offering includes financing, insurance, maintenance, tracking, documentation, and fleet management services—all under one roof.

With over 170 active vehicles already in operation and a perfect payment record spanning five years, Drive45 has demonstrated remarkable financial stability. This new funding will accelerate the startup’s expansion plans by enabling greater fleet acquisition, customer base growth, and geographic reach across Nigeria.

The company intends to extend its services to major business hubs including Port Harcourt, Abuja, Kano, and Kaduna in the coming years—bringing vehicle access solutions to underserved markets where demand is rapidly increasing. This aligns with Drive45’s broader vision of democratizing mobility for businesses and individuals alike.

“Having the right financial backing is critical in a capital-intensive business like ours,” stated Oluwaseyi Adefemi, CEO of Drive45. “TLG took the time to understand our model and structured their investment to support our growth trajectory. This funding will directly enable us to reach more businesses across Nigeria.”

The transaction represents an innovative financing approach that combines TLG Capital’s private credit with a guarantee from Cascador, delivered in partnership with Morgan Stanley—demonstrating how collaborative solutions can unlock institutional capital for high-growth African companies.