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Lipa Later isn't accepting new investments

Lipa Later’s deadline was October 29, 2023

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Logo of Lipa Later

Lipa Later

Africa's Fastest growing SME bank for retailers.
B2B B2C Fintech Black Founders Payments Diversity & Inclusion
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Featured image of Lipa Later
$70,177
Raised
84
Investors
Successfully funded and closed on October 29, 2023.
Invest in Lipa Later

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Pitch Updates 5 Reviews 11
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Closed on October 29, 2023. Information may not be up-to-date. Campaign closed on October 29, 2023. Information displayed may not be up-to-date.
Opportunity Product Traction Biz. model Vision and strategy Leadership
About Team Press

Documents

Republic (OpenDeal Portal LLC, CRD #283874) is hosting this Reg CF securities offering by Lipa Later Group Inc.. View the official SEC filing and all updates:
Official SEC Logo Form C SEC.gov
Company documents
Lipa Later Crowd SAFE Lipa Later Form C.pdf
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Hear from some of the 84 investors in Lipa Later


Show more

Highlights


  • Listed by Financial Times as one of the fastest growing companies in Africa
  • Huge Market: A $500B Financial Inclusion Opportunity in Urban Africa
  • Traction: 350K Consumers, 35K Merchants & a CAC of $4
  • Profitable: 558% YoY growth
  • Market Leader: Exclusive partnership with Mastercard for POS financing
  • Funded: Raised $25M from top USA VC's and Commercial Banks
  • Team: Diverse team from Africa, China & USA recognized by Forbes & LSE

Opportunity


Huge opportunity to be the financial control centre for Africa's 50 million retailers.

  • Our bank provides a one stop centre for retailers to sell and transact both online and offline.
  • We serve as a credit provider for both merchants and their consumers.
  • Consumers can utilise our Buy Now Pay Later solution while merchants can access working capital solutions.
  • Access to credit is the biggest challenge faced by Africa's 50million SMEs in their day to day business operations. 
  • Only 5% of Africans have access to credit cards or any form of credit

Product


We are a bank that allows merchants to sell online and offline from one platform and utilise transaction data to access credit. 

  • Lipa Later started by connecting merchants and consumers through a consumer led BNPL platform. We have utilized our retail and credit expertise to expand our offering and graduate into a merchant bank.

Traction


We are a profitable business with 558% growth YOY.

  • Listed by Financial Times as one of the fastest growing companies in Africa in 2023
  • 350,000+ Customers and 30k merchants
  • Exclusive partnership with Mastercard for POS financing in East Africa.
  • Operational in four markets; Kenya, Uganda, Rwanda and Nigeria.
  • Acquired East Africa's leading e-commerce platform, Sky.Garden
  • $4 CAC and $ 300 LTV
  • 65% of customers are acquired at zero cost
  • We have built a world class merchant portfolio with brands such as Walmart and Carrefour.
  • $20M Facilities originated across different online and offline merchants.


Business model


Our goal is to bank 100,000 SMEs in Africa and earn $20M in revenue by end of 2024...

Lipa Later generates revenue through four different revenue touchpoints that allow us to generate approximately 50% margin on a unit cost basis 

  • Commissions and Fees - Lipa Later enables merchants to sell online (through our leading e-commerce platform Sky.Garden) and offline through our robust and state of the art Point of Sales system. Our fees generated for this range between 5% - 15% per transaction carried out on these platforms. 
  • Interest - We are a credit partner to our merchants and consumers; our merchants and consumers access credit through Lipa Later (based on existing transactional data). Our customers pay in the range of 4%-10% based on their respective risk profiles. 


Vision and strategy


Lipa Later wants to be the financial control centre for Africa's 50 million SMEs.

Leadership


We have built a diverse team of venture builders who have built across the world.

Team




Deal terms


Valuation cap

$30,000,000

The maximum valuation at which your investment converts into equity shares or cash.
Learn more

Discount

20%

If a trigger event for Lipa Later occurs, the discount provision gives investors equity shares (or equal value in cash) at a reduced price.
Learn more.

Minimum investment

$500

The smallest investment amount that Lipa Later is accepting.
Learn more

Maximum investment

$124,000

The largest investment amount that Lipa Later is accepting.
Learn more

Funding goal

$1.24M

The maximum amount the offering can raise is $1.24M.
Learn more

Deadline
Lipa Later needs to reach their minimum funding goal before the deadline ( ). If they don’t, all investments will be refunded.
Learn more
Type of security

Crowd SAFE

A SAFE allows an investor to make a cash investment in a company, with rights to receive certain company stock at a later date, in connection with a specific event. · Learn more

Nominee Lead

CEO of Lipa Later Group Inc. (Currently Eric Muli)

Will direct the Nominee on certain matters like voting, amendments and conversions affecting the security.
Learn more

How it works

Documents

Republic (OpenDeal Portal LLC, CRD #283874) is hosting this Reg CF securities offering by Lipa Later Group Inc.. View the official SEC filing and all updates:
Official SEC Logo Form C SEC.gov
Company documents
Lipa Later Crowd SAFE Lipa Later Form C.pdf

Bonus perks

In addition to your Crowd SAFE, you'll receive perks for investing in Lipa Later.
Invest
$1,000
Receive
  • Lipa Later Gear
  • Laptop Sticker
Invest
$2,500
Receive
  • Lipa Later Gear
  • Laptop Sticker
  • Quarterly Investor Update
Invest
$5,000
Receive
  • Lipa Later Gear
  • Laptop Sticker
  • Quarterly Investor Updates
  • Discount code for 10% off on online orders at skygarden
Invest
$10,000
Receive
  • Lipa Later Gear
  • Laptop Sticker
  • Monthly & Quarterly Investor Updates
  • Online meeting with CEO to discuss growth
  • Discount code for 20% off on online orders at skygarden
Invest
$15,000
Receive
  • Lipa Later Gear
  • Laptop Sticker
  • Monthly & Quarterly Investor Updates
  • Online meeting with CEO to discuss growth
  • Discount code for 20% off on online orders at skygarden
  • One flight ticket to tour HQ
Invest
$25,000
Receive
  • Lipa Later Gear
  • Laptop Sticker
  • Monthly & Quarterly Investor Updates
  • Online meeting with CEO to discuss growth
  • Discount code for 30% off on online orders at skygarden
  • Two flight ticket to tour HQ
  • Lunch with the Founders

About Lipa Later

Legal Name
Lipa Later Group Inc.
Founded
Mar 2018
Form
Delaware LLC
Employees
150
Website
lipalater.com
Social Media
Headquarters
Google Map location of of Lipa Later
1000N. West street 1501 New Castle County , Wilmington, DE
Headquarters
1000N. West street 1501, New Castle County, Wilmington, DE, United States 19801

Lipa Later Team
Everyone helping build Lipa Later, not limited to employees

Profile picture of Eric Muli
Eric Muli
Founder
An entrepreneur and a community builder. He attended Babson College and Stanford Seed School of Business in 2019.
Profile picture of Michael Maina
Michael Maina
Co-Founder & C.O.O
Profile picture of Claudine  Gakundi
Claudine Gakundi
Director of Business
Profile picture of Samson Wawire
Samson Wawire
Head of Finance
3 more team members
Eric Muli
Founder
Michael Maina
Co-Founder & C.O.O
Claudine Gakundi
Director of Business
Samson Wawire
Head of Finance

Press

FT ranking: Africa's Fastest Growing Companies 2023
Ft
·
May 2, 2023

List of 100 shows that sectors from fintech to renewable energy to healthcare managed to develop their businesses while m...

Lipa Later Acquires Sky Garden
CIO Africa CIO Africa
·
Dec 5, 2022

Buy Now Pay Later (BNPL) company Lipa Later is the company that acquired Sky Garden

Kenya's Lipa Later Scores AliExpress Co-Founder as New CT...
IT News Africa | Business Technology, Telecoms and Startup News IT News Africa | Business Technology, Telecoms and Startup News
·
Apr 8, 2022

Lipa Later, a first-of-its-kind buy-now-pay-later (BNPL) company operating in Kenya, Rwanda, Uganda, and Nigeria, has app...

Kenyan BNPL startup Lipa Later eyes more African markets ...
TechCrunch TechCrunch
·
Jan 13, 2022

Lipa Later, a Kenyan tech-led consumer credit platform, is planning to expand to new markets in Africa after raising $12 ...

Lipa Later partners with Carrefour to enable customers to...
BrandKemistry BrandKemistry
·
Nov 3, 2021

Nairobi, November 1st, 2021: Lipa Later has officially partnered with Carrefour, one of Kenya's biggest retailers in Keny...

Mastercard and Lipa Later Group Join Forces to Drive Fina...
Mastercard Mastercard

August 1, 2023 | Nairobi, Kenya Mastercard and Lipa Later have announced a strategic partnership to drive financial inclu...

Logo of Lipa Later

Lipa Later

Lipa Later successfully raised $70,177 from 84 investors on October 29, 2023
Profile picture of Matthew Kuntz
Profile picture of Mohammed Haizam Faizeen
Profile picture of Anastacy Jomar Martinez Gomez
Profile picture of Glenn Burney
Matthew, Mohammed Haizam, Anastacy Jomar, Glenn, and 80 others invested. 11 Reviews
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