Exciting News 🎉 Lipa Later Successfully Closes a Kes. 500 Million Privately Placed Debt Issue, Sets sights on raising Kes. 2BN. Find Out More
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Lipa Later Successfully Closes a KES 500 Million Privately Placed Debt Issue, Sets sights on raising Kes. 2BN
PUBLISHED ON Feb 26, 2024
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Lipa Later Group, a leading fintech platform founded to empower African businesses to do more by enabling e-commerce, financial inclusion, and shopping on a centralized and fully integrated platform, is pleased to announce the successful closure of a KES 500 million privately placed Debt issuance, reaffirming our 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.
Our journey to empower Kenyan consumers with convenient and accessible financing options has been met with incredible enthusiasm from our 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 is a testament to our growth trajectory and the trust we have earned within the Kenyan financial ecosystem, and it will enable us to expand our offerings and serve our customers better.
"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 " said Eric Muli, Group CEO at Lipa Later.
Looking Forward, we plan on raising an additional KES 2 Billion in both Equity and Debt to spur our growth further as we work towards unlocking a $500bn Financial Inclusion Opportunity in Urban Africa. This capital infusion will support our continued growth and expansion plans, enabling us to reach more customers and businesses nationwide.
The Kenyan market holds immense potential for financial innovation, and we are committed to playing a significant role in shaping the future of financing in Kenya. With the support of our stakeholders and investors, we are confident that we can achieve our goal of making financing more accessible and inclusive for all.
Lipa Later is dedicated to providing Kenya's best financing solutions and customer experiences. We look forward to continued collaboration with Rubicon Landing and our partners as we work towards our vision of a financially inclusive Kenya.
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