Lipa Later Group, a prominent fintech platform, has successfully concluded a private debt issuance, raising Sh500 million ($3.25 million).
This underscores the company’s commitment to transforming financing options for e-commerce, financial inclusion, and centralized shopping platforms in Kenya.
The private placement, facilitated by Rubicon Landing and KN Law, signifies a significant milestone in Lipa Later’s mission.
The capital raise reflects positive responses from customers and private capital markets, emphasizingthe firm’s role in promoting financial inclusion. Earlier, the company initiated a successful crowdfunding campaign on Republic, raising $1.24 million. Lipa Later’s CEO, Eric Muli, expressed excitement about the funding and gratitude to investors. The raised funds will be strategically invested in technology and infrastructure to improve accessibility and convenience of financing solutions.
Looking ahead, the company aims to raise an additional Sh2 billion in equity and debt to support further growth and unlock a $500 billion Financial Inclusion Opportunity in Urban Africa.
The focus on the Kenyan market demonstrates Lipa Later’s commitment to financial innovation, with plans to make financing more accessible and inclusive. The company remains dedicated to providing top-notch financing solutions and customer experiences, anticipating ongoing collaboration with partners to realize its vision of a financially inclusive Kenya.
