Ghanaian Trade Finance Startup Liquify Secures $1.5 Million to Digitize Invoice Financing Across Africa
A Ghanaian financial technology company focused on revolutionizing trade financing for African small and medium-sized enterprises has successfully closed a $1.5 million oversubscribed seed equity investment, complemented by additional debt capital. This funding milestone represents a significant advancement in addressing Africa’s estimated $120 billion annual trade financing deficit.
Future Africa spearheaded the equity investment alongside contributions from Launch Africa, 54 Collective, Digital Africa, Equitable Ventures, and multiple individual investors. Impact-focused lending institution Emerald Africa supplied debt facilities to accommodate Liquify’s expanding liquidity requirements.
Established in 2023 by co-founders Nadya Yaremenko and Alberta Asafo-Asamoah, Liquify enables African export businesses to transform outstanding invoices into immediate operational capital through digital invoice financing solutions. Following its beta launch in late 2024, the platform has processed over 150 transactions totaling more than $4 million, primarily supporting SME exporters in Ghana and Kenya conducting business with European and North American purchasers.
“Liquify was created to address the $120 billion trade finance deficit constraining Africa’s most innovative SMEs,” stated Yaremenko, the company’s co-founder and Chief Executive Officer. “This investment round, combined with exceptional talent joining our organization, confirms our strategic direction. Through our comprehensive digital, AI-enhanced platform, exporters can convert outstanding invoices into immediate cash flow, while international investors gain access to an innovative, uncorrelated investment category.”
The platform streamlines historically complex trade finance procedures—encompassing client onboarding, identity verification, money laundering prevention protocols, and creditworthiness assessment—enabling confirmed export invoices to receive funding within hours rather than weeks.
“Our technology eliminates bureaucratic processes, processing delays, and excessive costs that have traditionally prevented banks or development finance organizations from supporting smaller enterprises,” Yaremenko clarified. “Standard banking procedures require over 10 days and exceed $10,000 to service individual SMEs. We reduce both timeframes and expenses to minimal levels.”
This methodology has gained traction among African SMEs, particularly those in agricultural commodity sectors, many experiencing payment cycles spanning 30–90 days while awaiting international buyer settlements. Liquify’s approach provides immediate cash access, delivering essential liquidity support.
Prior to establishing Liquify, Yaremenko oversaw a $3 billion trade finance portfolio at Citi throughout emerging markets. She observed directly how international banks’ post-crisis withdrawal intensified funding limitations for African SMEs. Co-founder Asafo-Asamoah, previously an impact investor with organizations including TBN and Seedstars, recognized similar constraints from investment perspectives—understanding that patient capital alone proved insufficient for sustainable SME export growth.
Their collaborative vision involved creating a comprehensive digital, AI-powered platform capable of delivering invoice financing “nine times faster and more cost-effectively” than conventional trade finance channels, establishing a scalable solution for addressing continental trade finance shortages.
Since inception, Liquify has enrolled numerous exporters who utilize the platform for recurring financing needs, reporting zero customer attrition. The company generates revenue by acquiring export invoices at discounted rates, providing SME liquidity while offering investors short-term, self-liquidating investment opportunities.
The recent funding will support Liquify’s plans to expand its Ghanaian workforce across product development, technology infrastructure, and customer success departments. Additionally, the company intends to enhance AI-powered risk assessment systems for accelerated due diligence and regulatory compliance processes.
Geographic expansion represents another priority, with planned market entry across English and French-speaking African territories, beginning with Nigeria. The company also aims to pilot structured investment instruments and digital solutions for streamlined trade documentation management.
Despite progress, significant obstacles remain. Managing multi-jurisdictional regulatory compliance, establishing credibility among SMEs accustomed to informal lending practices, and demonstrating SME trade finance viability to international investors continue presenting substantial challenges.
“Persuading SMEs to embrace formal, digital solutions required patience, but our efficiency and dependability have fostered confidence. The primary challenge involves demonstrating to investors that SME trade finance represents not merely viable opportunities—but investable, scalable asset categories,” Yaremenko explained.
Liquify seeks to transform trade receivables from neglected obligations into diversified, financeable investment instruments. The startup believes its framework could ultimately enable African SMEs to expand exports more sustainably through predictable, affordable working capital access—while providing investors exposure to short-term, low-correlation assets insulated from broader market fluctuations.
