Lipa Later Group has acquired SkyGarden at an undisclosed fee.
It comes weeks after SkyGarden raised Ksh.736 million with the deal dictating the firm will fully be owned by Lipa Later Group but keep to operate using its name – SkyGarden.
Lipa Later with presence in six African countries, seeks to bridging the gap between the merchant and a customer with more empowerment between both parties, merchant and customer, stellar service, stellar tech, and revamped strategies that promise to disrupt the industry.
The company operates in Kenya, Uganda, Tanzania, Rwanda, Nigeria and South Africa, with the acquisition marking a milestone in the group’s goal to offer innovative solutions as it seeks to expand customer base and solidify presence in the market.
“SkyGarden 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,” said Lipa Later CEO Eric Muli.
Lipa Later will now position itself to provide a comprehensive e-commerce solution to consumers, and with SkyGarden’s established infrastructure and market presence, consumers will be able to purchase items from Sky Garden using any preferred payment method.
“Last month, we saw no other option than to file for insolvency,” said Martin Majlund, founder of Sky Garden. Adding that “Today, I’m happy to see that Sky Garden will live on with new owners and new management. We built a great product over time, and I believe Lipa Later has the potential to take Sky Garden to the next level. Through this acquisition, the vision of Sky Garden will continue to live on while retaining jobs and businesses on our platform.”
This acquisition is a key step forward in Lipa Later’s goal of becoming a leader in the e-commerce space.
The acquisition of SkyGarden by Lipa Later presents a great opportunity for both companies to benefit from each other’s strengths and further the growth of the e-commerce industry.
Expansion plans are in place to see Sky Garden integrated across other Lipa Later countries of operation which include Rwanda, Uganda and Nigeria.