A Kenyan buy-now-pay-later service that faced administration despite previous funding success.
Inside the failed courtship between Kenya BNLP startup Lipa Later and Nigeria’s Klump
Klump was introduced to Lipa Later by an investor, leading to discussions about a potential acquisition. Lipa Later had recently raised $12 million and was looking to expand its operations across Africa.
4 African startups that shutdown in Q1 2025
African tech startups secured $780 million in funding in the first half of 2024, a 57% decrease from 2023. 54gene, a Nigerian genomics company, and Sendy, a Kenyan logistics startup, shut down due to funding problems.
Lipa Later: A Cautionary Tale of Africa’s BNPL Tech Ecosystem as It Faces Administration
Lipa Later celebrated a $10 million funding round in late 2024, intended for expansion across Africa. The company entered administration on March 24, 2025, under the control of Joy Vipinchandra Bhatt.
VC Firm Founders Factory Africa Rebrands to 54 Collective
Founders Factory Africa rebrands and changes its name to 54 Collective. 54 Collective will primarily focus on commercial investments and integrate impact into all of its activities.
