M-KOPA

M-KOPA is a fintech platform that provides digital financial services to underbanked consumers by leveraging data to combine digital micropayments with the Internet of Things [IoT] technology. 

M-KOPA's mission is to make financing for everyday essentials accessible to everyone.

M-KOPA was founded in 2011 by Jesse Moore and Nick Hughes. The company is headquartered in Nairobi, Kenya, with operations in Kenya, Uganda, Ghana and Nigeria.

 

M-KOPA's flexible credit model allows individuals to pay a small deposit and get instant access to everyday essentials, including smartphones, electric motorcycles and solar power systems, and then graduate to digital financial services such as loans and health insurance.

 

 M-KOPA is known chiefly for its pay-as-you-go (PAYG) financing model that allows customers to build ownership of appliances over time by paying an initial deposit followed by flexible micro-payments.

 

M-KOPA claimed to have provided over $600 million in cumulative credit for its 3 million underbanked customers via a network of over 10,000 agents.

 

M-KOPA is backed by Stanbic Bank, CDC Group, FMO, Standard Bank Group, The International Finance Corporation (IFC), Sumitomo Corporation, Lightrock, LGT Venture Philanthropy, Latitude Fund, Triodos Investment Management, Dutch Entrepreneurial Development Bank, British International Investment, Norfund, HEPCO Capital Management, and others. The company raised $255M ($55M in equity and $200M in debt) in new financing on May 15, 2023. This brings M-KOPA's total funding to $518.6M to date.

 

 

  • Year founded: 2011
  • Funding Info: $518.6M over 11 Rounds (Latest Funding Type: Debt)
  • Yearly Revenue: NA
  • Employee Size: 1,001-5,000
  • Business Valuation: NA
  • City/Town: Nairobi
  • State: Nairobi
  • Country: Kenya
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