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Credit company LipaLater raises Sh1.3 billion for expansion
Eric Muli (left), chief executive officer of LipaLater and Sharad Barot, chief operations officer of Vitafoam Products Limited during the launch a past partnership. FILE PHOTO | NMG
Digital consumer credit provider LipaLater has secured a Sh1.36 billion capital injection from a consortium of investors to finance expansion into new markets in Africa. The funds are in the form of a mix of debt and equity.
The firm, which was founded in Nairobi in 2018, offers hire purchase services to consumers by paying the retailer upfront and then collecting instalment payments from the buyer.
