Kenyan fintech startup Lipa Later has joined Mastercard’s Start Path program, gaining access to operational support and technological resources. The company becomes the third African participant in the initiative, following Nigerian firms NetPlus and Flutterwave.
Founded in 2016, Lipa Later offers installment payment solutions for consumers, enabling access to goods and services through a digital platform. CEO Eric Muli stated the partnership aligns with the company’s goal to expand financial inclusion across Africa.
Mastercard’s Start Path program, launched in 2014, focuses on scaling fintech and commerce startups. A 2019 EY report highlighted Africa’s fintech adoption grew from 16% in 2015 to 33% in 2017, driven by demographic trends and underdeveloped banking infrastructure.
Adam Jones, Mastercard East Africa’s Area Business Head, emphasized regional fintech partnerships as critical for innovation. Lipa Later’s inclusion follows collaborations with startups in Nigeria and Kenya, reinforcing the program’s regional focus.
