Buy now, pay later company Lipa Later Group has announced that it has acquired Sky.Garden barely two-weeks after getting a new buyer.
Lipa will now fully manage the firm’s operations in Kenya, allowing customers to buy goods and services from a wide-range of sellers electronically.
The Group’s CEO Erick Muli said thousands of merchants have signed up on the platform.
“SkyGarden platform has worked with over 10 thousand merchants and hundreds of thousands of customers across the country and has been a very big enabler of E-commerce in the country,” Muli said.
Sky.Garden management had in October filed for an insolvency in the Danish Holding Company Sky.Garden ApS on financial challenges.
SkyGarden, which has raised Sh736.2 million, will now be fully owned by Lipa Later Group.
With the acquisition, Lipa Later will provide Sky.Garden’s buyers buy now, pay later model that provides for a payment plan that is flexible and affordable through monthly instalments.