Sky.Garden

Founded in 2015 by Danish entrepreneurs Christian Grubak and Martin Majlund, Sky.Garden emerged as a mobile-first, software-as-a-service (SaaS) e-commerce platform targeting the African retail market. The company established its headquarters in Nairobi, Kenya, aiming to empower small and medium-sized enterprises by providing them with the tools to create and manage their own online webshops. The platform was designed to give retailers control over their inventory, automate payment reconciliation, and came with pre-integrated local shipping and payment options, with customer care managed through the Sky.Garden framework. The business model centered on charging a commission on each transaction, which was reported to be eight percent.

The company's journey included securing significant funding to fuel its growth. It raised a total of $5.3 million over three rounds, including a seed round in February 2018 of $1.2 million and a Series A round of $4 million in June 2021. Key investors included SANAD, Aavishkaar Capital, Uncovered Fund, TRK Group, and Futuristic.vc. Despite this backing, the firm faced financial difficulties. In September 2022, after failing to secure a new funding round amidst challenging macroeconomic conditions, Sky.Garden announced it was ceasing operations and filed for insolvency.

A pivotal turn came in December 2022, when Kenyan fintech and Buy Now, Pay Later (BNPL) provider, Lipa Later Group, acquired Sky.Garden for an undisclosed amount, although the deal was reported to be around $1.6 million. This acquisition saved the e-commerce platform from closure, allowing it to continue operations under its own name as a fully owned subsidiary of Lipa Later. Following the acquisition, Lipa Later announced a significant investment to relaunch and revamp the platform in late 2023. The revitalized platform now offers an expanded suite of services for its merchants, integrating Lipa Later's financial services, including access to financing, direct bill payments, and the ability for shoppers to use flexible payment plans. The new vision aims to create a comprehensive ecosystem connecting merchants directly to customers, leveraging Lipa Later's established presence in the payment and finance sectors across Kenya, Rwanda, and Uganda.

Keywords: e-commerce platform, SaaS, African retailers, SME empowerment, mobile commerce, online marketplace, inventory management, payment gateway, logistics integration, Lipa Later, Kenyan startup, fintech, buy now pay later, merchant services, online storefronts, retail tech, emerging markets, Nairobi, Christian Grubak, Martin Majlund