African fintech Lipa Later secures SEC approval for US investors

Lipa Later Group, a leading African fintech company, has received approval from the U.S. Securities and Exchange Commission (SEC) to raise funds from the general public in the United States, the company announced Friday.

Lipa Later, founded in 2018 to empower African businesses through e-commerce, financial inclusion and a centralized shopping platform, is one of the first African tech startups to secure permission from the SEC for a U.S. public offering.

“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 fintechs,” said Lipa Later CEO Eric Muli in a statement. “This marks a significant step in our journey, and we are eager to share this transformative experience.”

The company has partnered with Republic, a global fintech investment platform, to provide access to backers worldwide. Lipa Later is recognized as one of Africa’s fastest-growing fintech firms, serving over 350,000 consumers and 35,000 merchants. It also has an exclusive deal with Mastercard for point-of-sale financing.

Muli said the U.S. fundraising reflects Lipa Later’s ambitions to become a global business and “financial control center” for Africa’s 50 million retailers. “This isn’t 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,” he said.

With a solid track record across Africa and Mastercard’s backing, Lipa Later aims to unleash a $500 billion opportunity and attract investors seeking substantial returns, Muli noted.

As it pursues U.S. fundraising, Lipa Later said it remains committed to transparency, accountability and innovation. The collaboration with Republic aims to blaze trails in the fintech arena.

Lipa Later has been hailed as a trailblazing innovator transforming finance, payments and e-commerce in Africa. The company aims to serve 100,000 small and medium enterprises.