Lipa Later Group, a prominent fintech platform based in Kenya, proudly announces the successful completion of private debt issuance, securing KES 500 million (approximately $3.3 million). This milestone underscores the company’s unwavering commitment to delivering innovative financing solutions to businesses and consumers across Africa.
Lipa Later’s platform is meticulously designed to empower African businesses by facilitating e-commerce, championing financial inclusion, and offering comprehensive, fully integrated shopping experiences.
This fundraising effort garnered substantial support from key partners, including Rubicon Landing, a renowned transaction advisory firm serving as transaction advisors, and KN Law, a leading legal advisory firm providing legal counsel.
Lipa Later’s mission to enhance financial inclusion in Kenya has generated considerable enthusiasm among both its customer base and the private capital markets.
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The success of Lipa Later Fundraising Round
The success of this fundraising round reflects the remarkable growth trajectory of the company and the trust it has cultivated within the Kenyan financial ecosystem. The capital secured will empower Lipa Later to diversify its range of offerings and provide even more accessible and convenient financing solutions to its clientele.
Eric Muli, Group CEO at Lipa Later, expressed his enthusiasm regarding the funding and its potential impact, remarking,
“We are excited about the opportunities this funding has unlocked for merchants and consumers. We would like to extend our heartfelt gratitude to the investors and supporters for their unwavering trust in our vision.
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 financing. This capital infusion will fuel the company’s ongoing growth and expansion initiatives as it strives to tap into a $500 billion financial inclusion opportunity in urban Africa. The company is committed to reaching more customers and businesses across Kenya.
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About Lipa Later Group
Lipa Later is a leading fintech platform offering consumer credit, working capital, and e-commerce solutions for merchants. The company’s foundation is built on empowering African businesses to achieve more by enabling e-commerce, fostering financial inclusion, and providing a centralized and fully integrated platform for shopping.
By harnessing the rapid growth of online presence across Africa, Lipa Later extends financial solutions to consumers, boosting their purchasing power and serving as an alternative payment option. The company has made credit readily accessible to consumers, streamlined shopping experiences in Africa, and contributed to the growth of retailers.
The Lipa Later Group acknowledges the significant potential for financial innovation in the Kenyan market and is dedicated to playing a pivotal role in shaping the future of financing in the country. Supported by stakeholders and investors, the company is confident in its ability to make financing more accessible and inclusive for all.
Lipa Later remains steadfast in its commitment to providing Kenya’s premier financing solutions and customer experiences. The company eagerly anticipates ongoing collaboration with Rubicon Landing and its partners as it strives to realize its vision of a financially inclusive Kenya.
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