Mogo

What Mogo does

Mogo Kenya (legally Mogo Auto Ltd) is a Nairobi-headquartered, Central Bank of Kenya-licensed Non-Deposit Taking Credit Provider that delivers asset financing to Kenya's informal and emerging-middle segments. Founded in 2019 as the Kenyan subsidiary of Latvia-based Eleving Group (founded 2012; operating in 17 countries across three continents), Mogo offers car loans, car logbook loans, buyoff logbook refinancing, boda-boda motorcycle financing (standard, VIP, used, and electric variants), tuk-tuk logbook loans, scooter financing, salary-backed check-off loans for civil servants and private-sector employees, and 'lipa mdogo mdogo' smartphone financing. Its technology stack is anchored by Safaricom M-Pesa integration for disbursements, repayments, and 6-month-statement credit assessment, complemented by a USSD channel (*695#), WhatsApp support, an online car marketplace (cars.mogo.co.ke) listing over 1,000 vehicles, and the free SAKA stolen-vehicle database.

Mogo operates a hybrid distribution model combining 80+ physical branches across 36 Kenyan counties with over 100 authorized vehicle and motorcycle dealer partnerships and digital onboarding channels. The company reports financing over 172,000 cumulative products, 100,000+ vehicles, and 100,000+ smartphones, with 72,000 mobility assets financed in 2025 alone. The 5.75% monthly reducing-balance rate on car logbook loans (marketed under a Best Price Guarantee) and short daily-payment cycles on boda-boda products (from KES 236-452/day) generate interest and fee income on a high-yield microfinance portfolio, with recent funding activity including a KES 800 million syndicated local-currency debt facility from I&M Bank and Ecobank in February 2026 as part of a planned KES 1.5 billion program.

Customer concentration is diffuse across individual micro-borrowers, with primary segments being boda-boda operators (Kenya's 2.5M-strong informal transport workforce contributing 4.4% of GDP), used car buyers, civil servants, and smartphone users. Strategic priorities include electric mobility financing, smartphone financing partnerships (OPPO Kenya), and ESG positioning, although the company faces a pending class-action lawsuit alleging predatory lending practices amid tightening CBK scrutiny of digital lenders.

Name

Mogo

Legal name

Mogo Auto Ltd

Website

https://mogo.co.ke

Company type

Private

Founded year

2019

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Mogo Kenya (Mogo Auto Ltd) is a Nairobi-based, CBK-licensed asset financier providing car, boda-boda, tuk-tuk, and smartphone loans to Kenya's informal sector and salaried employees via 80+ branches, 100+ dealer partners, and M-Pesa-integrated digital channels. It is a subsidiary of Latvia's Eleving Group.

Ownership category

akta.pro rank

Product category

Consumer Asset Financing

NAICS

Sales Financing (52222)

SIC

Short-Term Business Credit Institutions (6153)

akta.pro primary industry

Merchant-Integrated BNPL (Checkout POS Financing) (FSAGAIAA)

akta.pro secondary industries

Consumer Electronics & Appliance Financing (FSAKAFAL), Buy Now, Pay Later (BNPL) (CRAFALAD), International / Cross-Border BNPL & Multi-Currency POS Financing (FSAGAIAN)

Keywords

• Vehicle asset financing
• Logbook loans
• Boda boda loans
• Consumer lending
• Smartphone financing

Headquarters

HQ city

Nairobi

HQ country

Kenya

HQ region

Africa

Offices42 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Asset Financing (Vehicle Loans): Mogo earns interest income on loans extended for vehicles (cars, boda-bodas, tuk-tuks, scooters). Customers make regular payments (daily, weekly, or monthly) over a defined loan term. Interest rates are competitive, marketed as among the lowest in Kenya's microfinance sector.
2. Logbook Loans: Secured lending using vehicle logbooks as collateral. Customers retain vehicle use while repaying loans. Revenue generated through interest and fees on the loan portfolio.
3. Check-off Loans (Salary Deductions): Loans for civil servants and private sector employees where repayments are deducted directly from salary. Provides predictable cash flows and reduced default risk.
4. Smartphone Financing: Device financing through partner phone dealers. 'Lipa mdogo mdogo' (pay-as-you-go) model converting upfront hardware costs into manageable installments. Partnership with OPPO Kenya for smartphone financing program.
5. Local Debt Instruments: Mogo raised Ksh 800 million in syndicated local debt as part of a Ksh 1.5 billion two-year bond program, providing capital for productive asset financing.

Pricing tiers

Go-to-market motion3 records

Distribution channels6 records

Marketing channels8 records

Core offering

Mogo Kenya provides affordable asset financing to Kenyan consumers and micro-entrepreneurs, specializing in vehicle loans (cars, boda-boda motorcycles, tuk-tuks, scooters), logbook-secured loans, smartphone financing, and salary-backed check-off loans. The company operates a digital-first lending platform integrated with Safaricom's M-Pesa mobile money ecosystem and supplements this with an 80+ branch physical network and 100+ dealer partnerships across Kenya.

Product overview

Mogo Kenya operates as a multi-product asset financing platform offering vehicle and device loans, primarily targeting micro-entrepreneurs and informal sector workers in Kenya. The core portfolio includes car loans (standard and super flexi), car logbook loans with refinancing options, Boda Boda motorcycle loans (standard, VIP, used, and electric variants), scooter financing, and Tuk-Tuk logbook loans. Additional products include check-off loans for civil servants and private employees, smartphone financing, and SAKA stolen vehicle database. The platform is complemented by an online car marketplace with over 1,000 vehicles. All products integrate with M-PESA for payments and leverage the Best Price Guarantee as a key differentiator. Mogo is part of Eleving Group operating across 17 countries.

Differentiator

Problem solved

Functional benefit

Brands

• SAKA: Stolen vehicle database platform allowing users to check if a vehicle is reported stolen before purchase.
• Best Price Guarantee

Products and services

• Car Loans Vehicle financing for used cars of any age, make, or model, with down payments from 20% and loan amounts up to KES 2,500,000 over repayment periods up to 24 months. Loan approval within 1 hour. Targeted at individual car buyers and small fleet operators in Kenya.
• Super Flexi Car Loans Vehicle financing requiring 50% down payment, with loan amounts up to KES 700,000 and repayment periods up to 24 months. Loan approval within 30 minutes. Designed for buyers with stronger down-payment capacity seeking faster approval.
• Car Logbook Loans Short-to-mid-term loans using vehicle logbook as collateral while allowing borrowers to retain use of the vehicle. Loans from KES 150,000 to 3,250,000 (up to 80% of vehicle value) with repayment up to 30 months at 5.75% monthly reducing balance. Zero upfront costs.
• Buyoff Logbook Loans Refinancing product that pays off an existing logbook loan with another lender and provides additional cash on top, with lower monthly payments. Loans up to KES 3,250,000 with repayment periods up to 36 months.
• Boda Loans Motorcycle financing for new and used boda-bodas with down payments from 22%, daily payments from KES 452, loan terms from 52 to 104 weeks, and pre-approval in 2 hours using M-Pesa statement verification. Targeted at boda-boda operators in Kenya's informal transport sector.
• Boda VIP Loans Premium motorcycle financing with a higher down payment (KES 20,000 additional) resulting in lower daily payments from KES 236 per day. Loan terms 52 to 104 weeks.
• Second-hand Boda Loans

Quantifiable outcome

• Over 172,000 products financed across Kenya
• +4 more outcomes

Named customers6 records

Segments6 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

AI capability3 records

Feature4 records

Partnerships

15 partnerships are on record, tiered core, major and minor.

• OPPO KenyacoreChannel Partner/ Reseller/ Distributor · 2 March 2026OPPO Kenya and Mogo launched a flexible smartphone financing program called 'lipa mdogo mdogo' (pay-as-you-go) in Nairobi. The partnership integrates Mogo's structured financing into OPPO's extensive retail network, converting upfront hardware costs into manageable installments for Kenya's smartphone users.
• Bajaj (Motorcycle Dealers)coreChannel Partner/ Reseller/ DistributorBajaj Boxer is one of the most popular motorcycle brands financed by Mogo. Available through Mogo's authorized dealer network nationwide. Both new and used Bajaj motorcycles are available.
• TVS (Motorcycle Dealers)coreChannel Partner/ Reseller/ DistributorTVS motorcycles available through Mogo's financing program. Mogo offers various TVS models including Apache, HLX, and basic models for boda-boda operators.
• Honda (Motorcycle Dealers)coreChannel Partner/ Reseller/ DistributorHonda motorcycles available through Mogo's dealer financing network. Available models include Ace 110 and Ace 125 variants.
• Spiro (Electric Vehicles)majorChannel Partner/ Reseller/ DistributorSpiro is an electric vehicle manufacturer offering electric boda-bodas through Mogo Kenya. Spiro operates battery swap stations in Kenya with over 80 sites operating 24 hours in Nairobi.
• Arc RidemajorChannel Partner/ Reseller/ DistributorArc Ride provides electric boda-bodas (Bidii model) through Mogo Kenya financing. Arc Ride operates Kenya's largest electric bike swapping network with over 80 sites operating 24 hours.
• AmpersandminorChannel Partner/ Reseller/ DistributorAmpersand is an electric motorcycle manufacturer available through Mogo Kenya's electric boda financing program.
• RoamminorChannel Partner/ Reseller/ DistributorRoam (formerly Roam Air) offers electric motorcycles available through Mogo Kenya financing. Roam Air model priced at KES 292,000 with battery charging options.
• FikaminorChannel Partner/ Reseller/ DistributorFika is an electric motorcycle brand available through Mogo Kenya's electric boda financing options.
• Car and GeneralminorChannel Partner/ Reseller/ DistributorVehicle dealer partner of Mogo Kenya. Listed as one of the partner logos on the Mogo Impact page.
• Abson MotorsminorChannel Partner/ Reseller/ DistributorAbson Motors partnered with Mogo Kenya for the SheRides Green Stages initiative in Malindi. Vehicle/tuk-tuk dealer partner.
• EmakminorChannel Partner/ Reseller/ DistributorListed as a partner logo on Mogo Kenya's Impact page. Partner dealer.
• MAUMORI (Malindi Boda-Boda Operators)minorStrategic or Co-development PartnerMAUMORI is the official body overseeing boda-boda operations in Malindi. Partnered with Mogo Kenya for the SheRides Green Stages initiative, combining financial empowerment with environmental action.
• Malindi MunicipalityminorStrategic or Co-development PartnerMalindi Municipality partnered with Mogo Kenya for the SheRides Green Stages initiative, participating in community tree-planting activity alongside women entrepreneurs and Mogo employees.
• Safaricom (M-Pesa)coreTechnology or IntegrationSafaricom's M-Pesa mobile money platform is integrated into Mogo Kenya's operations for loan disbursements, repayments, and credit assessment using 6-month M-Pesa transaction statements.

Scale indicators16 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Tala (Kenya): Tala is a global digital lender using mobile data (including M-Pesa transaction history) to underwrite consumer loans in Kenya. While more app-centric, Tala competes directly for the same informal-sector borrowers and overlaps with Mogo's smaller-tenor check-off and consumer loan offerings.
• Letshego Kenya: Letshego is a Botswana-listed inclusive finance group with Kenyan operations focused on salary-backed lending and asset finance for employed and informal-sector customers. Direct overlap with Mogo's check-off loan products for civil servants and private employees.
• Carbon (formerly Carbon360): Carbon is a Nigerian-origin digital lender with substantial Kenyan operations offering consumer and SME loans. Carbon competes with Mogo in the salary-backed lending and consumer credit space, including the lending product Carbon for Business which serves employed borrowers — overlapping with Mogo's check-off loans.
• Branch International: Branch is a major digital lending platform operating in Kenya that uses smartphone data and M-Pesa history to underwrite consumer loans. Like Tala, Branch competes for the same mobile-first informal-sector borrowers, applying pressure on Mogo's shorter-tenor, smaller-ticket products.
• Watu Credit: Watu Credit is one of the largest boda-boda and asset financing players in East Africa, with deep Kenyan operations financing motorcycles, tuk-tuks, and cars through a branch + dealer model. Most direct competitor to Mogo's boda-boda financing business with similar target customers (informal-sector operators) and similar daily-collection microcredit model.

Broad incumbents

• M-Shwari: M-Shwari is Safaricom's flagship mobile savings and loan product on M-Pesa, providing short-term credit to millions of Kenyan M-Pesa users. While product is unsecured microcredit rather than asset financing, M-Shwari targets the same informal-sector customers with the same M-Pesa data underwriting approach, making it a major adjacent competitor for Mogo's salary-backed and short-tenor products.
• KCB Bank Kenya: KCB is one of Kenya's largest banks with an active asset finance division and salary-backed lending for civil servants (the same GoK/TSC employees Mogo serves with check-off loans). KCB's broader deposit base gives it a structural funding-cost advantage in the same product categories where Mogo competes.
• Equity Bank (Eazzy Loan, Asset Finance): Equity Bank is one of Kenya's largest banks with a dominant position in SME and consumer lending, including asset financing products (auto loans, logbook loans) and digital lending via Eazzy Loan app. As a large incumbent, Equity competes with Mogo across car financing, salary-backed loans, and informal-sector credit with lower funding costs.

Emerging players

• Zenka Finance: Zenka is a Kenyan mobile lending platform offering short-term digital loans via M-Pesa. While smaller and more focused on micro-credit than Mogo's asset-backed model, Zenka targets the same informal-segment borrowers and increasingly competes for the lower-tenor end of Mogo's product range.

Regional players

• Aspire Capital (Kenya): Aspire Capital is a Kenyan non-deposit-taking credit provider offering logbook loans, asset financing, and SME credit — directly overlapping with Mogo's core logbook loan and vehicle financing products in the same Kenyan market.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/mogo-kenya-limited

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

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

M&A

Investments

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

Frequently asked questions about Mogo