Credit startup Lipa Later goes into administration
Joy Vipinchandra Bhatt of Moore JVB Consulting has been appointed as the administrator of Lipa Later Limited, a digital consumer credit provider.
According to a notice by Moore JVB, Bhatt assumed control of the company’s business, assets, and management affairs on March 24, 2025. All matters related to the company must now be directed to Bhatt or authorized representatives.
Additionally, the notice clarified that Lipa Later’s directors no longer have 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.
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Bhatt is currently engaging stakeholders to ensure a smooth transition. Creditors have been instructed to submit full particulars of their claims against the company before April 23, 2025.
The development comes three months after Lipa Later secured Sh1.36 billion in debt and equity financing from a consortium of investors to support expansion into new African markets.
Founded in 2018, Lipa Later provides hire purchase services, paying retailers upfront while collecting installment payments from buyers.
