Kenyan tech-led consumer credit provider Lipa Later has been placed under administration not long after it secured at least Sh1.998 billion in equity and debt financing over three rounds for expansion into new African markets.
The announcement, which extends a worrying trend of local startups going under after gobbling up investor resources, has seen accounting firm Joy Vipinchandra Bhatt of Moore JVB Consulting appointed as the administrator to take over control of the besieged startup.
