Lipa Later, a Kenyan BNPL startup, has acquired $12 million in funding for enlargement

Kenyan buy-now-pay-later (BNPL) firm Lipa Later has secured US$12 million from a syndicate of traders to assist it improve protection in present markets and develop into new ones.

The cash, which is a mix of inventory and debt, was raised from Cauris Finance, Lateral Frontiers VC, GreenHouse Capital, SOSV, Sayani Investments, and Axian Monetary Providers.

Lipa Later was based in 2018 and makes use of information analytics to assist individuals get simple and reasonably priced credit score.

To be able to develop our enterprise and attain new African markets, we’re thrilled to have our traders be part of us on this journey. Whereas we’re increasing into three to 5 new African markets, we plan to develop and quadruple our footprint within the present markets over the subsequent yr,” mentioned Eric Muli, co-founder, and CEO of Lipa Later.

The agency had already grown into Uganda and Rwanda off the again of funding spherical firstly of final yr, nevertheless it has disclosed an additional US$12 million, acquired late final yr, to permit it to develop inside present markets and into new ones resembling Nigeria, Ghana, and Tanzania.

Lipa Later will now be capable to present its BNPL companies to a far bigger pool of present prospects.

 

Learn extra on Tech Gist Africa:

BFREE, a Nigerian fintech startup, has raised $1.7 million in a pre-Collection A funding spherical

JABU, a Namibian e-commerce startup, raises $3.2 million in a seed spherical

Alvin, a Kenyan cash supervisor startup secures $740,000 in pre-seed funding

The publish Lipa Later, a Kenyan BNPL startup, has acquired $12 million in funding for enlargement appeared first on Techgist Africa | Africa Main Tech Information, Critiques and Ideas.

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