M-KOPA

What M-KOPA does

M-KOPA is a Nairobi-headquartered, UK-incorporated fintech founded in 2011 that provides connected asset financing and digital financial services to underbanked consumers across five Sub-Saharan African markets — Kenya, Nigeria, Ghana, Uganda, and South Africa. Its core product is pay-as-you-go smartphone financing: customers make a small upfront deposit, then repay via daily, weekly, or monthly installments through mobile money (M-PESA, MTN, Airtel, Ghana Mobile Money), USSD, or the M-KOPA app until the device is owned outright. The platform has reached 7 million+ customers, unlocked $2 billion+ in credit, and operates a 35,000+ direct sales agent distribution network that drives last-mile acquisition and collections in markets where digital-only channels are insufficient.

The company's technology stack combines IoT-enabled device control (remote deactivation, SIM-locking, telematics) with AI-driven credit analytics that score thin-file borrowers on payment behavior rather than traditional bureau history, sustaining single-digit loss rates. Layered on top of the device financing base is a modular product set: digital loans unlocked after three months of repayment history, hospital cash and life microinsurance underwritten and administered through Turaco and Old Mutual Ghana, device protection, affordable data bundles, second-life refurbished devices, and an e-mobility vertical financing electric motorcycles through a Bolt partnership in Kenya. Nigeria is the company's fastest-growing market, having scaled to over 1 million customers since 2019 entry, with ₦231 billion ($1.1 billion) in credit disbursed in 2025.

The business model generates revenue from installment-based device financing (one-time), recurring digital loan interest (3–10% monthly), subscription insurance premiums, device protection fees, and data and mobility subscriptions. The company completed a $255 million debt-and-equity round in May 2023 led by Standard Bank Group with equity from Sumitomo Corporation, IFC, Lightrock, British International Investment, and others, and raised a $166 million Series F in 2025 concurrent with reporting its first profitable year ($9.2 million gain). It has been ranked among the Financial Times' Africa's Fastest Growing Companies for five consecutive years (2022–2026) and operates from Nairobi, Lagos, Accra, Johannesburg, Kampala, and a London registered office.

Name

M-KOPA

Legal name

M-KOPA Holdings Limited

Website

https://m-kopa.com

Company type

Private

Founded year

2011

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

M-KOPA is a Nairobi-based fintech that provides pay-as-you-go smartphone financing, digital loans, and insurance to over 7 million underbanked customers across Kenya, Nigeria, Ghana, Uganda, and South Africa, using IoT device control and AI credit analytics.

Ownership category

akta.pro rank

Product category

Consumer Pay-as-you-go Asset Financing

NAICS

Sales Financing (52222), Sales Financing (522220)

SIC

Personal Credit Institutions (6141)

akta.pro primary industry

Direct-to-Consumer (D2C) Personal Lending Platforms (Unsecured Installment) (FSAKAAAK)

Keywords

• Pay-as-you-go financing
• Smartphone financing
• Digital microcredit
• Consumer asset financing
• Embedded mobile credit

Headquarters

HQ city

London

HQ country

United Kingdom

HQ region

Europe

Offices6 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Supply Chain, Personnel, Marketing or Sales, Operations, Technology or R&D

Revenue model

1. Smartphone Financing: M-KOPA sells smartphones through an asset financing model where customers pay a small initial deposit followed by daily, weekly, or monthly installments. Once the Total Payment is made, customers own the device outright. The company uses IoT technology to manage device access and payment collection.
2. Digital Loans: M-KOPA provides cash loans to customers who have completed three months of smartphone payments, leveraging payment history data to offer credit to underserved populations. Loans are disbursed via mobile money with flexible repayment schedules.
3. Bundled Services: M-KOPA offers value-added services including health insurance (hospital cash cover), device protection (screen repair, phone replacement), and affordable data bundles, providing additional recurring revenue streams.
4. E-Mobility/Vehicle Financing: M-KOPA finances electric motorcycles and vehicles through subscription fees and lease payments, partnering with platforms like Bolt. Vehicles can be deactivated for non-payment and generate potential carbon credit revenue through environmental attribute programs.

Pricing tiers

Go-to-market motion1 record

Distribution channels6 records

Marketing channels5 records

Core offering

M-KOPA provides pay-as-you-go smartphone financing to underbanked consumers across Sub-Saharan Africa. Customers make a small initial deposit, then pay daily, weekly, or monthly installments via mobile money until the device is fully owned. After three months of successful payments, customers unlock access to digital cash loans, with additional bundled services including health insurance, device protection, affordable data, and electric mobility financing.

Product overview

M-KOPA is a fintech platform offering smartphone financing as its core product, with a modular platform architecture that layers financial services, protection plans, and connectivity on top of the device financing base. The core offering is Pay-As-You-Go smartphone financing with flexible daily, weekly, or monthly payments, which unlocks access to Digital Loans after three months. Bundled Services (Health Cover, Device Protection, Affordable Data) are add-on modules available to customers in good standing. The company has expanded into Electric Mobility (e-bikes and e-motorcycles) through Bolt partnerships, and offers market-specific products including M-KOPA Care (hospital cash insurance), M-KOPA SOS emergency response, and Second Life/Used Device trade-in programs. The platform operates across five markets (Kenya, Nigeria, Ghana, Uganda, South Africa) with country-specific product configurations.

Differentiator

Problem solved

Functional benefit

Products and services

• Smartphone Financing Pay-as-you-go smartphone financing with small initial deposits and flexible daily, weekly, or monthly payments; IoT-enabled device control deactivates devices on payment default, and customers take ownership after completing total payments.
• Digital Loans Cash loans available to customers with at least three months of successful smartphone repayment history, with monthly interest rates of 3-10%, disbursed via mobile money with flexible repayment schedules.
• Health Cover (Hospital Cash) Hospital cash microinsurance providing inpatient hospitalization benefits and life coverage, offered to eligible M-KOPA customers in Ghana and Uganda through partnerships with licensed insurers and administrators.
• Device Protection Screen repair and phone replacement coverage for M-KOPA-financed devices, available to up-to-date customers with fees varying by product model; phone replacement requires a police report for lost/stolen claims.
• Affordable Data Mobile data bundles provided through partnerships with mobile network operators, offering affordable connectivity to M-KOPA customers.
• Electric Mobility Financing Subscription-based financing for electric motorcycles and e-bikes, targeting ride-hailing drivers through partnerships with platforms like Bolt in Kenya; includes telematics monitoring and potential carbon credit revenue.
• M-KOPA SOS Emergency Response Opt-in emergency response service available in South Africa, partnered with AURA, providing access to roadside assistance and urgent support through a network of Response Partners.
• Second Life Devices Refurbished smartphone program in South Africa offering grade A-D devices with 6-month warranties, enabling trade-in and upgrade options for customers.

Quantifiable outcome

• Over 7 million customers served across five markets
• +5 more outcomes

Named customers1 record

Segments3 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration6 records

AI capability5 records

Feature3 records

Partnerships

Five partnerships are on record, tiered core and minor.

• BoltcoreStrategic or Co-development PartnerBolt partnered with M-KOPA for electric motorcycle financing in Kenya, with over 1,700 riders onboarded supported by M-KOPA financing. Over 40% of Bolt's Nairobi motorcycle fleet is now electric. Partnership enables drivers to access affordable electric vehicles through M-KOPA's subscription model.
• Old Mutual GhanacoreStrategic or Co-development PartnerOld Mutual Ghana underwrites health cover (hospital cash and life benefits) for M-KOPA Ghana customers, providing insurance coverage as part of bundled services.
• Turaco Inclusive Ghana LimitedcoreStrategic or Co-development PartnerTuraco administers insurance products for M-KOPA Ghana including hospital cash cover and life benefits, handling claims processing and customer service.
• Turaco Microinsurance LimitedcoreStrategic or Co-development PartnerTuraco provides and administers hospital cash cover microinsurance for M-KOPA Uganda customers, licensed by Insurance Regulatory Authority of Uganda.
• AURA Emergency ResponseminorStrategic or Co-development PartnerAURA provides emergency response services for M-KOPA South Africa customers through the M-KOPA SOS feature, with Response Partners delivering emergency assistance.

Scale indicators19 records

Recent moves9 records

Expansion highlights6 records

Emerging players

• Angaza: Angaza provides PAYG software-as-a-service that enables distributors and financiers to offer asset financing on essential products in emerging markets. Comparable as an enablement layer for similar pay-as-you-go models, though B2B rather than direct-to-consumer like M-KOPA.
• OPay: OPay is a mobile payments and consumer fintech super-app in Nigeria and other emerging markets, with growing consumer credit products. Comparable as an emerging player pushing into digital loans for underbanked Nigerian consumers, directly overlapping with M-KOPA's fastest-growing market.
• Konga (or Kuda Bank): Kuda Bank is a Nigerian digital-only bank offering payments, savings, and credit products to underbanked consumers. Comparable as an emerging Nigerian fintech increasingly extending into consumer credit, with overlapping target customer to M-KOPA Nigeria.

Direct peers

• Sun King (Greenlight Planet): Sun King sells pay-as-you-go solar home systems across Africa and Asia using IoT-enabled device control and mobile money payments. Highly comparable to M-KOPA's original PAYG business model and IoT-enforcement technology, serving the same underbanked customer base with asset financing for essential products.
• Branch International: Branch offers D2C digital lending to underbanked consumers across Africa (Kenya, Nigeria, Tanzania, India) using mobile-data-driven credit scoring. Directly comparable to M-KOPA's digital loans arm serving similar customer personas, with similar reliance on mobile money rails and AI underwriting.
• BBOXX: BBOXX provides PAYG solar and clean energy products across Africa using IoT technology and mobile money integration. Directly comparable to M-KOPA's PAYG roots and IoT-device-control architecture for underbanked customer acquisition in similar Sub-Saharan geographies.
• FairMoney: FairMoney provides nano-loans and digital banking to underbanked consumers, with deep operations in Nigeria and expansion across emerging markets. Highly comparable as a mobile-first consumer lender targeting the same informal-sector borrower profile with similar loan-ticket sizes and AI-driven underwriting.
• Carbon (formerly Paylater): Carbon is a Nigeria-focused digital lender providing instant credit to underbanked consumers and small businesses via mobile. Directly comparable to M-KOPA's digital loans product, with similar target customer, underwriting methodology, and Nigerian market focus.
• Tala: Tala provides instant personal loans to underbanked consumers in emerging markets (Kenya, Philippines, Mexico, India) using mobile-device data for underwriting. Comparable to M-KOPA's AI-driven credit scoring approach and target customer base, though Tala is more loan-pure-play versus M-KOPA's asset-financing anchor.

Broad incumbents

• M-Kopa (Tala Kenya competitor note: M-PESA / Safaricom): Safaricom's M-PESA dominates mobile money in Kenya and increasingly extends into credit (M-Shwari, Fuliza) and merchant financing. Comparable as a broad incumbent increasingly overlapping with M-KOPA's lending and payments rails in its home Kenyan market.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat6 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xx.com/mkopakenya
• YouTubeyoutube.com/@m-kopa
• Facebookfacebook.com/mkopa.ke
• LinkedInlinkedin.com/company/m-kopa
• Instagraminstagram.com/mkopa
• TikToktiktok.com/@m.kopa

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Funding overview

Funding rounds26 records

Investors38 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about M-KOPA