Nairobi-based fintech platform, Lipa Later Group, has concluded a KES 500 million private debt issuance, bolstering its commitment to offering innovative financing solutions. The funding, supported by Rubicon Landing and KN Law, aims to empower African businesses for increased financial inclusion and e-commerce.
Aligned with its vision to catalyze commerce across Africa, Lipa Later Group has invested Kshs 250 million in rebranding Sky.Garden. The move is part of the company’s strategy to position Sky.Garden as a leader in the evolving social commerce landscape, with a goal to connect 100,000 merchants within the next year.
Recognizing the growing preference for social commerce, Lipa Later Group’s investment in Sky.Garden will leverage this trend, as global social commerce is anticipated to grow three times faster than traditional commerce, reaching $1.2 trillion by 2025.
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, CEO, Lipa Later Group
Looking ahead, Lipa Later plans to raise an additional KES 2 billion in both equity and debt to further stimulate growth and unlock a $500 billion financial inclusion opportunity in urban Africa. The infusion of capital will support Lipa Later’s expansion plans, aiming to make financing more accessible and inclusive for customers nationwide.
The company remains dedicated to providing top-tier financing solutions and customer experiences in Kenya, with a commitment to shaping the future of financing in the country. The collaboration with Rubicon Landing and partners underscores Lipa Later’s journey toward a financially inclusive Kenya.