Kenyan startup Lipabiz is dedicated to revolutionising the way small and medium-sized enterprises (SMEs) in Africa manage their payment collection, bookkeeping, inventory management, and point of sale operations.
Founded by Maxwel Otieno and Isaac Kennedy in June of this year after a few months of development and refinement, Lipabiz offers an all-in-one platform that streamlines payment collections, invoicing, expense management, and record-keeping.
“We noticed a significant gap in the market where existing solutions were either too complex, too expensive, or not well-integrated to meet the needs of SMEs. Traditional tools often required multiple platforms to handle different aspects of business operations, leading to inefficiencies and increased costs,” Kennedy told Disrupt Africa.
Lipabiz was designed to fill this gap, with a robust platform that provides real value to SMEs. While its main competitors are traditional accounting software and standalone payment processors, Kennedy said the startup differentiates itself by providing a unified, user-friendly experience enhanced with AI capabilities.
Currently self-funded, Lipabiz operates on a subscription-based model, offering a range of plans to accommodate different business needs, including a free version. It has already acquired over 100 paying customers since its launch.
“This rapid adoption and early revenue demonstrate the market’s need for a solution like Lipabiz and validates our business model,” Kennedy said. “SMEs are actively seeking solutions that can streamline their financial management processes, and Lipabiz is filling that need effectively.”
Operating only in the Kenyan market for now, focusing on serving SMEs across various industries, Lipabiz nonetheless has wider expansion plans.
“The feedback and success we’ve seen so far have given us the confidence to plan for expansion into other African countries. Our aim is to leverage the scalability of Lipabiz to provide similar solutions to SMEs throughout the continent, addressing common challenges in financial management and payments,” said Kennedy.
