Alberta Asafo-Asamoah (Liquify): 10 Key Things You Must Know

Overview

Alberta Asafo-Asamoah is a social entrepreneur and impact investor known for her instrumental role in advancing trade finance solutions in Africa. As the co-founder of Liquify, a fintech startup based in Ghana, Asafo-Asamoah is shaping the landscape of invoice financing for small and medium-sized enterprises (SMEs) across the continent. Liquify stands out by transforming unpaid export invoices into immediate working capital, thereby closing a significant trade finance gap within Africa. Through her work, Asafo-Asamoah is emerging as a pivotal figure in both business and financial empowerment across emerging markets.

1. Early Life and Education

Alberta Asafo-Asamoah was born in February 1991 and later moved to the United Kingdom for her education. She completed her undergraduate studies in Economics and Political Science at Syracuse University, New York, where she was actively involved in organizations such as UNICEF and The African Student's Union. Her interest in policy and economics paved her way to studying at Imperial College Business School, where she earned an MBA focused on social impact.

2. Corporate Banking and Impact Investing

Prior to her entrepreneurial venture, Asafo-Asamoah accumulated extensive experience in the corporate banking sector. She worked at the Royal Bank of Scotland and NatWest, providing debt finance to large corporate enterprises. Asafo-Asamoah later transitioned into impact investing, joining Transformational Business Network to facilitate funding for SMEs in East Africa, notably in Uganda and Kenya.

3. The Genesis of Liquify

Liquify was co-founded by Alberta Asafo-Asamoah in 2023 alongside Nadya Yaremenko. The fintech startup was driven by the vision to alleviate the trade finance bottleneck faced by African SMEs, especially in accessing liquidity. The company's platform focuses on connecting exporters in emerging markets with global financiers, transforming slow-paying invoices into same-day cash.

4. Liquify's Business Model

Liquify operates as a digital invoice financing marketplace. The platform automates traditional trade finance processes, including Know Your Customer (KYC), Anti-Money Laundering (AML) checks, and credit scoring. Unlike conventional banks, Liquify completes these checks rapidly, enabling SMEs to convert invoices to cash within hours rather than weeks.

5. Addressing Africa's Trade Finance Gap

Liquify addresses a critical $120 billion trade finance gap in Africa by offering affordable working capital solutions tailored to SMEs. The platform allows verified export invoices to be sold directly to global investors, turning them into financeable assets, thus providing liquidity to businesses and investment opportunities to financiers.

6. Significant Growth and Impact

Since its beta launch in late 2024, Liquify has facilitated over 150 transactions, financing over $4 million primarily in agri-commodity exports. Liquify's platform is particularly appealing to SMEs in the agriculture and manufacturing sectors who face long payment cycles with overseas buyers.

7. Recent Milestones

In a remarkable achievement, Liquify completed an oversubscribed seed equity round, raising $1.5 million. This funding round was led by early-stage investor Future Africa, with participation from several prominent funds and angel investors. Liquify plans to expand its operations into Anglophone and Francophone Africa, including Nigeria.

8. The Role of Technology and AI

At the core of Liquify's offerings is its technological prowess, utilizing a fully digital, AI-powered platform to expedite and streamline credit checks, compliance, and settlement processes. This technology reduces the time and cost traditionally associated with invoice financing.

9. Challenges and Opportunities

Liquify navigates complex regulatory environments, promoting a digital-first approach amongst SMEs accustomed to traditional credit practices. Building trust with SMEs and convincing global investors of the viability of SME trade finance as an asset class remain ongoing challenges.

10. Future Prospects

Looking ahead, Liquify aims to enhance its product offerings by integrating AI-driven engines for compliance and credit scoring. The startup also plans to introduce structured investment products and develop digital tools for efficient trade documentation, contributing to a more robust ecosystem for African SMEs.

Conclusion

Alberta Asafo-Asamoah's entrepreneurial journey with Liquify showcases her commitment to bridging economic disparities and empowering African SMEs through innovative fintech solutions. Her leadership and vision are transforming how trade finance operates in Africa, offering a sustainable growth path for small businesses across the continent. As Liquify continues to grow, Asafo-Asamoah’s influence will likely reverberate through new markets, unlocking further opportunities for investment and development.