Liquify, a fintech startup based in Ghana, is revolutionizing trade finance for African small and medium-sized enterprises (SMEs). Recently, the company successfully secured $1.5 million in an oversubscribed seed equity round, in addition to debt financing. This funding milestone is crucial for Liquify as it strives to address the $120 billion trade finance gap that Africa faces annually.
The equity round was spearheaded by Future Africa, a prominent early-stage investor, with contributions from Launch Africa, 54 Collective, Digital Africa, Equitable Ventures, and various angel investors. Emerald Africa, an impact-focused lender, also provided a debt facility to support Liquify’s increasing liquidity requirements.
Founded in 2023 by Nadya Yaremenko and Alberta Asafo-Asamoah, Liquify offers African exporters a digital platform to convert unpaid invoices into immediate working capital through invoice financing. Since its beta launch in late 2024, Liquify has facilitated over 150 transactions totaling more than $4 million. The platform primarily caters to SME exporters in Ghana and Kenya, engaging with buyers in Europe and North America.
Yaremenko, Liquify’s co-founder and CEO, emphasized the company’s mission to bridge the trade-finance gap hindering Africa’s dynamic SMEs. The seed round and the addition of new team members validate Liquify’s vision of providing exporters with same-day cash for unpaid invoices, while offering global investors access to a novel asset class.
Utilizing technology, Liquify streamlines trade finance processes such as onboarding, Know Your Customer (KYC) and Anti-Money Laundering (AML) checks, and credit scoring. Verified export invoices are financed within hours, a stark contrast to the traditional lengthy processing times.
The platform has been particularly beneficial for SMEs in the agri-commodity sector, alleviating the burden of waiting 30 to 90 days for overseas buyers to settle invoices. With Liquify’s platform, these businesses can access immediate cash, ensuring critical liquidity.
Prior to Liquify, Yaremenko managed a $3 billion trade finance portfolio at Citi, gaining insights into the funding challenges faced by African SMEs post-financial crisis. Asafo-Asamoah, her co-founder, brings impact investing experience to the table, underscoring the shared vision of building a digital, AI-powered platform for faster and more cost-effective invoice financing.
Since its inception, Liquify has onboarded numerous exporters who rely on the platform for repeat financing, boasting zero customer churn. The company generates revenue by purchasing export invoices at a discount, providing SMEs with liquidity and offering investors short-term, self-liquidating assets.
With the fresh funding, Liquify plans to expand its team in Ghana, enhance its AI-driven risk engines, enter new markets in Anglophone and Francophone Africa, starting with Nigeria, and pilot structured investment products and digital tools for efficient trade documentation management.
Despite challenges such as multi-country compliance, building trust with SMEs accustomed to informal credit, and educating global investors on SME trade finance viability, Liquify remains steadfast in its goal of transforming trade receivables into a financeable asset class. The startup envisions empowering African SMEs to grow their exports sustainably while providing investors with low-correlation instruments insulated from market volatility.
Yaremenko concluded, “By converting slow-paying invoices into immediate cash, we’re not just helping SMEs survive—we’re empowering them to thrive.” In today’s fast-paced world, it can be easy to overlook the importance of self-care. Many of us are constantly juggling work, family, and social commitments, leaving little time for ourselves. However, taking care of ourselves is crucial for our overall well-being and happiness.
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