Kenyan e-commerce startup Sky.Garden is back in action one year after being acquired by Kenyan fintech Lipa Later.
With a substantial $1.6 million investment, the relaunch brings a range of services, including financing, real-time transaction monitoring, bill payments, and M-Pesa or bank account transactions.
Shoppers can now directly purchase items from the e-commerce platform. Lipa Later’s CEO, Eric Muli, emphasises their vision to be a commerce catalyst for Africa and highlights the importance of local ownership.
The acquisition allowed Lipa Later to connect merchants and customers seamlessly. Initially facing closure due to funding challenges, Sky.Garden found a lifeline in Lipa Later’s acquisition.
Muli said: “Sky.Garden has done an incredible job and checks all those boxes. Lipa Later is no stranger to the e-commerce industry, having already established a strong presence in the online payment and finance sectors. This acquisition has greatly accelerated our plans of redefining the shopping experience for consumers,”
The fintech explored various funding sources, including a $5 million privately placed debt issuance and a $1.2 million crowdfunding campaign on Republic.
With the marketplace live, Sky.Garden is currently offering Yuletide discounts, marking a promising return.
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