{"id":104129,"date":"2025-03-26T13:30:20","date_gmt":"2025-03-26T10:30:20","guid":{"rendered":"https:\/\/www.capitalfm.co.ke\/business\/?p=104129"},"modified":"2025-03-26T16:12:35","modified_gmt":"2025-03-26T13:12:35","slug":"startup-lipa-later-goes-into-administration","status":"publish","type":"post","link":"https:\/\/www.capitalfm.co.ke\/business\/2025\/03\/startup-lipa-later-goes-into-administration\/","title":{"rendered":"Startup Lipa Later goes into administration"},"content":{"rendered":"<p><strong>NAIROBI, Kenya, Mar 26 \u2013 Joy Vipinchandra Bhatt of Moore JVB Consulting has been appointed as the administrator of Lipa Later Limited, a digital consumer credit provider.\u00a0<\/strong><\/p>\n<p>According to a notice by Moore JVB, Bhatt assumed control of the company\u2019s business, assets, and management affairs on March 24, 2025. All matters related to the company must now be directed to Bhatt or authorized representatives.<\/p>\n<p>Additionally, the notice clarified that Lipa Later\u2019s directors no longer have authority to transact or deal with the company\u2019s assets unless explicitly approved by the administrator.<\/p>\n<p>\u201cPursuant 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 (\u2018The Administrator\u2019) of Lipa Later Limited (\u2018The Company\u2019),\u201d the statement read.<\/p>\n<p>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.<\/p>\n<p>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.<\/p>\n<p>Founded in 2018, Lipa Later provides hire purchase services, paying retailers upfront while collecting installment payments from buyers.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>NAIROBI, Kenya, Mar 26 \u2013 Joy Vipinchandra Bhatt of Moore JVB Consulting has been appointed as the administrator of Lipa Later Limited, a digital consumer credit provider.\u00a0 According to a notice by Moore JVB, Bhatt assumed control of the company\u2019s business, assets, and management affairs on March 24, 2025. All matters related to the company [&hellip;]<\/p>\n","protected":false},"author":14479,"featured_media":58011,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1359,1383,1343,1395,13,687,1394],"tags":[8142,934,2327,7403],"coauthors":[16726],"class_list":["post-104129","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-africa","category-aviation","category-banks","category-china-communications-construction-company","category-technology","category-top-stories","category-transport","tag-administration","tag-featured","tag-lipa-later","tag-startup"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v25.7.1 (Yoast SEO v25.7) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Startup Lipa Later goes into administration - Capital Business<\/title>\n<meta name=\"description\" content=\"NAIROBI, Kenya, Mar 26 \u2013 Joy 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