Lipa Later Group, a prominent fintech platform dedicated to empowering African businesses through e-commerce, financial inclusion, and integrated shopping solutions, has concluded a successful KES 500 million private debt issuance. This achievement reaffirms the company’s dedication to providing innovative financing options for its clientele. Noteworthy support for this raise was provided by Rubicon Landing, a well-regarded transaction advisory firm, serving as transaction advisors, and KN Law, a leading legal advisory firm, acting as Legal Advisors.
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.Eric Muli, Group CEO, Lipa Later
Looking ahead, the company intends to secure an additional KES 2 billion through a combination of equity and debt, further propelling its growth. This move is in line with the company’s objective to tap into a $500 billion Financial Inclusion Opportunity in Urban Africa. The injected capital will provide vital support for Lipa Later’s ongoing expansion efforts, enabling wider reach to customers and businesses nationwide.
The Kenyan market exhibits immense potential for financial innovation, and Lipa Later is steadfast in its commitment to play a pivotal role in shaping the future of financing in Kenya. With steadfast support from stakeholders and investors, the company is confident in its ability to achieve the goal of making financing accessible and inclusive for all.