Kenyan buy-now-pay-later (BNPL) company LipaLater is embarking on a crowdfunding campaign to raise $1.2 million at a $30 million valuation. This comes shortly after LipaLater acquired Kenyan online marketplace SKY.Garden, which was on the brink of shutting down due to funding issues. While the startup is accepting investments as low as $100 on Republic, it insists that the crowdfunding is not out of necessity, with the CEO stating that they have already raised $25 million in a mix of debt and equity. LipaLater aims to improve its debt-to-equity ratio through this crowdfunding campaign, which allows investors to participate in its growth. This move aligns with the recent trend of startups turning to crowdfunding as VC interest in growth-stage companies wanes.
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