Kenyan fintech platform gets approval for public fundraising in the US

Wacera Maina, LipaLater CEO Eric Muli and Claudine Gakundi pose for a photo at the acquisition of Sky.Garden announcement. [Courtesy]

A Kenyan fintech platform has received exclusive approval to raise funds from the general public in the United States.

The LipaLater platform was founded to empower African businesses to do more by enabling e-commerce, financial inclusion, and shopping on a centralized and fully integrated platform.

Its CEO Mr Eric Muli expressed enthusiasm about the remarkable milestone, stating, "We are thrilled to offer retail investors in the US and across the world the opportunity to invest in one of Africa's fastest-growing fintech."

Muli said excitement is magnified as the platform pioneers a trend, embarking on becoming a global business and the financial control center for Africa's 50M retailers.

This, he said marks a significant step in their journey, and they are eager to share the transformative experience with all investors.

The LipaLater Group is a global trailblasing innovator recognised as one of Africa's Fastest-Growing Fintech Companies by the Financial Times that continues to reshape the finance, payments, and e-commerce landscape in Africa.

By leveraging Republic's platform, LipaLater gains access to a worldwide network of backers who are passionate about supporting groundbreaking ventures that have the potential to make a lasting impact.

This partnership enables the platform to amplify its mission of becoming Africa's most expansive credit, payments, and shopping platform.

"This is not just an investment opportunity; it's a catalyst for entrepreneurship, a cradle for job creation, and a beacon of economic development across an entire continent, as well as an opportunity to make a remarkable return on your investment," said Mr Muli.

He said the platform aims to bank 100,000 SMEs."

He said with a solid track record of over 350,000 consumers and over 35,000 merchants and an exclusive partnership with Mastercard for POS financing, Lipalater is poised to unleash a $500 billion African opportunity and captivate the imaginations of investors who recognise the potential for substantial returns on their contributions.

Muli further noted that through this collaboration, LipaLater aims to pave the way for new possibilities in the fintech space.