Lipa Later, a buy-now-pay-later company operating in Kenya, Rwanda and Uganda, has raised $12 million from a consortium of investors.

The funding, which is a mix of equity and debt, will help Lipa Later expand within its current markets and into new markets such as Nigeria, Ghana and Tanzania.

The company’s recent round of funding attracted backing from Cauris Finance, Lateral Frontiers VC, GreenHouse Capital, SOSV IV LLC, Sayani Investments and Axian Financial Services.

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