For Nigerian startups in 2025, the funding landscape is shifting. Equity isn’t the only option on the table and Oriki’s latest win is proof. This spa and wellness brand secured ₦750 million in debt financing and a $10,000 grant through the Cascador Pitch Program, showing how non-dilutive capital can be a game-changer.
Here’s what made their strategy work and what founders across Africa can learn to grow their businesses.
Building a Brand Before Seeking Capital
Oriki wasn’t just pitching an idea, they were building a movement. With a clear brand rooted in African heritage, a strong founder story, and proof of traction through their physical locations and expanding customer base, Oriki entered the Cascador program with solid fundamentals.
Founders often wait until they “need money” before seeking opportunities. Oriki shows the power of having strong positioning and traction before applying for funding. They demonstrated how grants and debt funding aren’t just about capital, they’re also about aligning your mission with investors who care about the same outcomes.
How Oriki’s Startup Pitch Won Grants and Debt Financing
Oriki’s pitch wasn’t just about numbers, it was about impact. They tied their expansion plan to job creation, local economic growth, and wellness access for underserved communities. Their clarity around how they would use the capital and how it fit into a larger story helped them stand out from the competition.
Rather than pitching for equity investors, Oriki strategically positioned itself for alternative capital showing that they were fundable, but not desperate.
Why Grants and Debt Financing Work for Consumer Brands
Equity dilution isn’t always ideal especially for lifestyle brands that are capital-intensive upfront but grow steadily over time. For a wellness and spa brand like Oriki, debt financing made sense. It provided the runway they needed without giving up control.
The $10K grant gave them a boost of equity-free capital to support short-term initiatives. The ₦750M debt funding provided longer-term financing, likely tied to performance or revenue goals. This mix gave Oriki breathing room to scale without over-promising to equity investors.
Grants and debt are powerful tools if you know how to access and use them. Oriki did both.
What Founders Can Learn From Oriki’s Funding Strategy
Oriki didn’t just “get lucky” with grants and debt financing, they earned it by building credibility through brand consistency, measurable traction, and clear purpose, they positioned themselves as fund-worthy even without chasing VCs.
If you’re looking to take a similar path, here’s what to learn from Oriki:
– Define your value proposition clearly
– Set measurable impact and growth goals
– Practice financial discipline and back it with realistic projections
– Build a long-term vision that makes funding terms worth it
You don’t have to chase VC money to grow. Oriki’s strategy shows that securing smart money is strategic, patient, and aligned with your values.
Conclusion
At Halisi Consults, we help African founders get investor-ready by preparing strong business documentation, refining funding strategies, and ensuring you’re positioned to attract the right kind of funding for your startups and approach investors with confidence.