News
Drive45 secures $3 million senior debt facility from TLG Capital
Lagos-based vehicle access company Drive45 has secured $3 million in senior debt from TLG Capital to grow its fleet and expand to more Nigerian cities.
By Propel Africa · 2026-09-09
Drive45 has secured a $3 million senior debt facility from TLG Capital, Africa Private Equity News reported on 9 September. TLG Capital is a private credit firm active across sub-Saharan Africa. Cascador is providing a guarantee on the facility, delivered with Morgan Stanley.
Vehicles without the purchase
Founded in 2021 and based in Lagos, Drive45 gives international and local businesses in Nigeria access to vehicles, so they can run transport without buying their own fleets. Instead of tying up cash in vehicles, customers pay for access, and Drive45 carries the fleet. It now has more than 170 active vehicles on the road.
"Mobility access is a capital business," said chief executive Oluwaseyi Adefemi.
Five more cities
The facility will fund fleet growth, a wider customer base and a deeper presence across Nigeria. Drive45 plans to expand beyond Lagos to Port Harcourt, Abuja, Kano and Kaduna.
At a glance
- Company: Drive45
- Raised: $3 million
- Type: Senior debt
- Lender: TLG Capital, with a guarantee from Cascador
- Founded: 2021, Lagos
- Fleet: More than 170 active vehicles
- Customers: International and local businesses in Nigeria
- Chief executive: Oluwaseyi Adefemi
- Next cities: Port Harcourt, Abuja, Kano, Kaduna