Lipa Later Group, a prominent fintech platform established to empower African businesses by facilitating e-commerce, fostering financial inclusion, and offering integrated shopping solutions, is delighted to announce the successful closure of a KES 500 million private debt issuance. This accomplishment reaffirms our unwavering commitment to delivering innovative financing solutions for our valued customers.
This fundraising endeavor received invaluable support from Rubicon Landing, a highly regarded transaction advisory firm serving as transaction advisors, and KN Law, a preeminent legal advisory firm serving as Legal Advisors. Our mission to empower Kenyan consumers with accessible and convenient financing options has been met with resounding enthusiasm from both our customers and the private capital markets. Lipa Later is dedicated to advancing financial inclusion in Kenya by providing flexible payment alternatives for consumers and businesses alike.
The triumphant completion of this fundraising initiative stands as a testament to our impressive growth trajectory and the trust we’ve garnered within the Kenyan financial landscape. It empowers us to expand our service offerings and elevate our commitment to serving our customers. Eric Muli, the Group CEO at Lipa Later, expressed his excitement about the opportunities these funds have unlocked for both merchants and consumers. He extended heartfelt gratitude to our investors and supporters for their unwavering trust in our vision. These funds will be instrumental in advancing our technological capabilities and infrastructure to make financing solutions even more accessible and convenient for our cherished customers.
Looking ahead, we are strategically planning to raise an additional KES 2 billion in both equity and debt to accelerate our growth as we strive to tap into a $500 billion financial inclusion opportunity in urban Africa. This infusion of capital will bolster our ongoing growth and expansion endeavors, enabling us to reach an even wider customer base and serve businesses across the nation.
The Kenyan market holds tremendous potential for financial innovation, and we remain steadfast in our commitment to shaping the future of finance in Kenya. With the unwavering support of our stakeholders and investors, we are confident in our ability to realize our mission of making financing more accessible and inclusive for all.
Lipa Later remains dedicated to delivering the finest financing solutions and customer experiences in Kenya. We eagerly anticipate continued collaboration with Rubicon Landing and our partners as we diligently work towards our vision of achieving financial inclusivity in Kenya.