Kenyan Credit Startup, Lipa Later Goes Into Administration

Lipa Later Limited, a leading digital consumer credit provider, has gone into administration following the appointment of Joy Vipinchandra Bhatt of Moore JVB Consulting as the administrator.

According to a notice issued by Moore JVB, Bhatt took over the company's business, assets, and management affairs on March 24, 2025. As a result, all matters related to the company must now be directed to Bhatt or authorized representatives. The notice further states that Lipa Later’s directors no longer have the authority to transact or deal with the company's assets unless explicitly approved by the administrator.

“Pursuant to Section 563 (2) (b) of the Insolvency Act 2015 of Kenya, notice is hereby given that effective 24th March 2025, Joy Vipinchandra Bhatt of Moore JVB Consulting LLP has been appointed as an Administrator (‘The Administrator’) of Lipa Later Limited (‘The Company’),” the statement read.

Bhatt is currently engaging stakeholders to facilitate a smooth transition, with creditors required to submit full particulars of their claims against the company before April 23, 2025.

This development comes just three months after Lipa Later secured KSh 1.36 billion in debt and equity financing from a consortium of investors to support its expansion into new African markets.

Founded in 2018, Lipa Later specializes in hire purchase services, paying retailers upfront while allowing consumers to make installment payments over time. The company’s model has enabled greater access to consumer goods through flexible financing solutions.

SOURCE: AGENCIES