
Egypt’s SETTLE Raises $2 Million Pre-Seed to Revolutionize B2B Payments
Egypt-based B2B payment platform, SETTLE, has secured $2 million in a pre-seed funding round.
Liquify, a Ghanaian fintech company streamlining access to trade finance for African small and medium-sized enterprises (SMEs), has successfully closed a US$1.5 million seed funding round that was oversubscribed.
The digital startup is addressing a critical financing bottleneck in Africa, where SMEs often wait up to 90 days for payment on export invoices, by accelerating access to liquidity through technology.
Founded in 2023 by Nadya Yaremenko and Alberta Asafo-Asamoah, Liquify operates as a digital invoice finance platform that connects African exporters to global capital.
Its platform digitizes and automates the traditionally manual processes of invoice financing, including KYC/AML verifications, credit risk assessments, and payment settlement.
Exporters upload their outstanding invoices, which are evaluated in real time and funded within hours, offering them much-needed cash flow at lower costs.
“Our platform is designed to eliminate the long wait exporters typically endure to access funds,” said Yaremenko.
“With just an invoice upload, we handle all compliance and due diligence checks and deliver financing rapidly—within hours instead of weeks.”
Since launching in beta mode in late 2024, Liquify has already facilitated over 150 transactions worth a combined US$4 million in trade volume.
The fresh equity injection of $1.5 million will support the company’s regional expansion strategy across Sub-Saharan Africa, with new hires planned in product development, engineering, and customer success to support its growing operations.
The seed round was led by Future Africa, with participation from Launch Africa, 54 Collective, Digital Africa, and Equitable Ventures.
Several angel investors with strategic expertise in fintech and trade finance also joined the round.
In addition to the equity raise, Emerald Africa extended a debt facility to Liquify, enhancing its capital pool to serve a broader SME base more flexibly.
The funding will be used not only to deepen Liquify’s footprint in Ghana but also to enter both English- and French-speaking African markets.
The startup is also investing in its proprietary technology, specifically its AI-powered engines that support credit scoring, KYC/AML automation, and due diligence processes.
“We are delighted to partner with ISA to support the development of solar energy in Africa,” said Alain Ebobissé, CEO of Africa50. “This partnership will help to accelerate the deployment of solar energy in Africa and improve the lives of millions of Africans,” he added.
Egypt-based B2B payment platform, SETTLE, has secured $2 million in a pre-seed funding round.
WaterEquity, a global asset manager committed to advancing water and sanitation solutions through private investment, has successfully raised over $100 million for its new initiative, the Water & Climate Resilience Fund.
FSD Africa Investments (FSDAi), the investment arm of FSD Africa, has made a significant financial commitment of $19.5 million towards climate adaptation and climate-aligned infrastructure projects across Africa.
© 2021 Empower Africa. All rights reserved.