Lipa Later Group, a prominent fintech platform with a mission to empower African businesses through innovative financing solutions, proudly announces the successful closure of a KES 500 million ($3.25 million) privately placed debt issuance. This milestone underscores Lipa Later’s unwavering commitment to providing cutting-edge financing options that enhance e-commerce, financial inclusion, and shopping on a centralized and fully integrated platform.
Supported by Rubicon Landing, a distinguished transaction advisory firm acting as transaction advisors, and KN Law, a leading legal advisory firm serving as the Legal Advisors, this private placement signals a significant achievement in Lipa Later’s journey to revolutionize financing solutions for consumers and businesses in Kenya.
The successful capital raise reflects the enthusiastic response from both customers and the private capital markets, highlighting Lipa Later’s pivotal role in fostering financial inclusion in Kenya. The platform’s commitment to providing flexible payment options has resonated with users, contributing to the growth trajectory and the trust earned within the Kenyan financial ecosystem.
Some months ago, the company launched a crowdfunding campaign on Republic in a bid to raise $1.24 million at a N30 million valuation
Eric Muli, Group CEO at Lipa Later, expressed excitement about the opportunities unlocked by the funding. He conveyed gratitude to investors and supporters for their unwavering trust in Lipa Later’s vision. The raised funds will be strategically invested in technology and infrastructure to make financing solutions more accessible and convenient for customers.
Muli stated, “We are excited about the opportunities this funding has unlocked for merchants and consumers. These funds have enabled us to further invest in technology and infrastructure to make our financing solutions even more accessible and convenient for our customers.”
Looking ahead, Lipa Later has ambitious plans to raise an additional KES 2 billion in both equity and debt. This capital infusion aims to propel further growth as the platform works towards unlocking a $500 billion Financial Inclusion Opportunity in Urban Africa. The additional funds will support Lipa Later’s expansion plans, enabling it to reach more customers and businesses across the nation.
The Kenyan market, ripe with potential for financial innovation, is a focal point for Lipa Later’s commitment to shaping the future of financing in the country. With the steadfast support of stakeholders and investors, Lipa Later aims to make financing more accessible and inclusive for all.
Lipa Later remains dedicated to providing the best financing solutions and customer experiences in Kenya. The platform looks forward to ongoing collaboration with Rubicon Landing and other partners as it works towards realizing its vision of a financially inclusive Kenya.
