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.
- Reports emerged of employees facing months of unpaid salaries, leading to uncertainty.
Lipa Later's downfall underscores the importance of sound financial management and the risks associated with rapid growth in the tech sector. The company's failure to secure additional funding and manage its debts serves as a warning to other startups about the volatility of emerging markets, where competition and economic pressures can quickly lead to collapse. This case highlights the need for better oversight and strategic planning in the face of aggressive expansion.
