Lipa Later Limited, a Kenyan digital consumer credit provider, is now under administration, with Joy Vipinchandra Bhatt of Moore JVB Consulting appointed to oversee its operations.
Why it matters
The move signals financial distress for the buy-now-pay-later (BNPL) firm, which had recently raised Sh1.36 billion in funding to expand into new African markets.
The details
- Bhatt took control of Lipa Later’s business, assets, and management on March 24, 2025.
- The company’s directors no longer have the authority to transact or manage assets without the administrator’s approval.
- Creditors have until April 23, 2025, to submit claims against the company.
What they’re saying
Moore JVB stated that Bhatt’s appointment follows Kenya’s Insolvency Act, ensuring a structured transition for stakeholders.
The big picture
Founded in 2018, Lipa Later facilitates hire purchase transactions, paying retailers upfront while collecting installment payments from buyers. The administration process raises questions about the sustainability of BNPL models in Kenya’s credit market.
Source: Capital FM
