Working Capital Associates

What Working Capital Associates does

Working Capital Associates (WCA) is a UK-incorporated limited liability partnership founded in 2018 and headquartered in London that operates as a female-led alternative credit provider specializing in supply chain and working capital financing for SME agricultural commodity exporters in Sub-Saharan Africa and Latin America, with physical origination presence in target investment countries across both regions. The firm delivers three core products: Receivables Financing (pre-shipment and post-shipment) for exporters, Payables Financing for Western importers, and Value Chain Financing covering the order-to-cash trade cycle for soft commodities including coffee, cocoa, and nuts. The technology stack is non-digital in the conventional sense: the core capability is financial structuring, in-country credit assessment, and relationship-driven origination and servicing rather than a software platform, with no API, SDK, or AI/ML components disclosed.

WCA's revenue model is a transaction-fee and interest-spread business, generating income from interest and fees on working capital financing extended to exporters and importers, augmented by what appears to be a sub-advisory/management fee stream from its relationship with TriLinc Global Impact Fund, which approved WCA as an investment partner in January 2022 and expanded the relationship to sub-advisor in December 2022. Customer segments are SME agricultural exporters in Africa and LatAm (primary) and Western importers purchasing from those regions (secondary), with named clients including Cenfro Café, Privamnuts, CAC Tocache, Agrícola San Gallán, Eco Kakao, Gisha Coffee, Amazonas Trading, and Cacao El Rey. The firm holds 2X Criteria certification (2022) for female leadership and operates within the UN SDG 2, 8, and 12 frameworks, positioning it for impact-aligned institutional capital. GTM is direct enterprise field sales supported by educational content (webinars with PRO ECUADOR, African Agri Council, International Trade Centre, Kenya National Chamber of Commerce), earned media via Business Wire press releases, and partnership-driven distribution through TriLinc.

Name

Working Capital Associates

Legal name

Working Capital Associates LLP

Website

https://workingcapitalassociates.com

Company type

Private

Founded year

2018

Operating status

Operating

Headcount range

1–10 employees

Short description

Working Capital Associates is a female-led, London-based alternative credit provider founded in 2018 that delivers receivables, payables, and value chain financing to SME agricultural commodity exporters in Sub-Saharan Africa and Latin America and to Western importers sourcing from those regions.

Ownership category

akta.pro rank

Product category

Trade Finance

NAICS

International, Secondary Market, and All Other Nondepository Credit Intermediation (522299)

SIC

Short-Term Business Credit Institutions (6153), Miscellaneous Business Credit Institution (6159)

akta.pro primary industry

Supply Chain Finance (Trade Credit, PO/Inventory Financing) (FSAKAGAE)

akta.pro secondary industries

Pre-Export & Export Finance (Working Capital, Packing Credit) (FSABAHAG), SME Trade Finance & Working Capital (LCs, Guarantees, Receivables) (FSABABAF), SME Term Loans & Growth Capital (FSAKAGAB)

Keywords

• Supply chain finance
• Trade finance solutions
• Receivables financing
• Payables financing
• Agricultural commodity finance

Headquarters

HQ city

London

HQ country

United Kingdom

HQ region

Europe

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Supply Chain Finance: Interest and fees from providing working capital financing to exporters and importers in the agricultural commodity trade finance sector

Pricing tiers

Go-to-market motion1 record

Distribution channels2 records

Marketing channels4 records

Core offering

Working Capital Associates provides tailor-made working capital and supply chain financing to SME agricultural exporters in Sub-Saharan Africa and Latin America and to Western importers of those commodities. Its offerings include receivables financing (pre-shipment and post-shipment) for exporters and payables financing for importers, structured to accelerate cash receipt, manage cash outflows, and cover the order-to-cash trade cycle in soft commodities and food value chains.

Product overview

Working Capital Associates is a female-led financial services firm founded in 2018 that operates as a unified offering rather than a modular platform. The company provides two primary financing products: Receivables Financing for exporters from Sub-Saharan Africa and Latin America, and Payables Financing for Western importers. These are offered through a Value Chain Financing framework that supports the growth of essential supply chains for soft commodities and agriculture products. All services are designed to provide working capital financing covering the order-to-cash trade cycle, with a focus on sustainable food systems and climate-smart production processes.

Differentiator

Problem solved

Functional benefit

Products and services

• Receivables Financing
• Payables Financing
• Value Chain Financing

Quantifiable outcome

• Successfully financed USD 1bn+ to support commercial flows across continents
• +1 more outcomes

Named customers8 records

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

One partnership is on record.

• PRO ECUADORminorStrategic or Co-development Partner · 28 May 2021Collaborative webinar series on supply chain finance for exporters, with PRO ECUADOR and WCA presenting jointly

Scale indicators6 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Root Capital: Nonprofit agricultural value chain financier operating across Latin America and Africa, providing working capital and trade credit to SMEs in coffee, cocoa and other soft commodities — directly comparable niche, geography, and product set to WCA.
• Symbiotics: Swiss asset manager specializing in emerging market private debt, including trade finance, agricultural SME lending and inclusive finance — direct overlap with WCA's geographic and product focus.
• Oikocredit: Dutch cooperative providing debt and equity to financial intermediaries and SMEs in developing countries, including agricultural value chain finance in Africa and Latin America.
• Incofin Investment Management: Belgium-based impact investor in financial inclusion and rural SME agriculture; active in Africa and LatAm with debt and working capital products structurally similar to WCA's receivables/payables financing.
• TriLinc Global: Impact-focused private credit fund manager deploying term and trade finance to SMEs in emerging markets; WCA's capital and sub-advisory partner, operating in the same African/LatAm corridors with overlapping deal sourcing.
• responsAbility Investments: Swiss impact asset manager financing financial inclusion, sustainable agriculture and SME lending across emerging markets, with comparable SME working capital and trade finance exposures in Africa and Latin America.
• IDH Farmfit Fund: Public-private blended finance vehicle providing working capital and risk-sharing to SME aggregators and processors in African and Latin American agricultural value chains.

Emerging players

• Agri3 Fund: Blended finance fund (UNEP, FMO, IDH) financing sustainable agriculture and land use in emerging markets with working capital and trade finance solutions overlapping with WCA's products.
• Acumen Capital Partners: Impact investor providing patient capital and SME debt in Africa and South Asia, including agricultural value chain financing that competes for similar borrowers and capital partners.

Broad incumbents

• BlueOrchard Finance: Leading global impact investment manager (part of Schroders) originating and structuring emerging market private debt, including SME and trade finance across Africa, LatAm and Asia.

Market position

Strengths5 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/working-capital-associates

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Working Capital Associates