Lipa Later announces close of Sh500 million privately placed debt issuance

Lipa Later Group, a fintech startup founded to empower African businesses to do more by enabling e-commerce, financial inclusion, and shopping on a centralized and fully integrated platform, has announced the closure of a KES 500 million privately placed Debt issuance, reaffirming its commitment to providing innovative financing solutions for our customers.

This raise was supported by Rubicon Landing, a reputable transaction advisory firm, acting as the transaction advisors and KN Law, a leading legal advisory firm, acting as the Legal Advisors.

According to the company, the journey to empower Kenyan consumers with convenient and accessible financing options has been met with enthusiasm from customers and the private capital markets. Lipa Later enhances financial inclusion in Kenya by providing flexible payment options for consumers and businesses.

This successful raise, the company further adds, is a testament to its growth trajectory and the trust it has earned within the Kenyan financial ecosystem, further noting that this will enable it to expand its offerings and serve customers better.

Eric Muli, Group CEO, Lipa Later: "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 Forward, the company says it plan on raising an additional KES 2 billion in both Equity and Debt to spur growth further as it works towards unlocking a $500bn Financial Inclusion Opportunity in Urban Africa. This capital infusion will support its continued growth and expansion plans, enabling us to reach more customers and businesses nationwide.

The Kenyan market holds immense potential for financial innovation, and Lipa Later says it is committed to playing a significant role in shaping the future of financing in Kenya. With the support of its stakeholders and investors, it says it is confident that it can achieve its goal of making financing more accessible and inclusive for all.

www.lipalater.com