Mogo
Mogo Loans Limited is a Uganda-based asset financing company and subsidiary of Eleving Group, providing boda boda motorcycle loans, vehicle logbook loans, and smartphone financing to underserved Ugandan consumers and micro-businesses across 29+ branches.
- Company typePrivate
- Founded2019
- HeadquartersKampala, Uganda
- Headcount251–500
- GTM typeB2C
- OfferingServices
What Mogo does
Mogo Loans Limited (MOGO Uganda) is a Kampala-headquartered asset financing company, founded in 2019 as a wholly-owned subsidiary of Latvia-based Eleving Group. It provides consumer and micro-enterprise credit products in Uganda: new and second-hand boda boda motorcycle loans (52/78/104 week terms), car and boda logbook loans (secured cash against vehicle logbooks), premium "VIP" boda loans, and — most recently — smartphone financing for TECNO/Infinix/itel devices through retail partners. MOGO also finances electric motorcycles from Zembo and Spiro with battery-swap support embedded in the loan product. The business model is asset-backed lending rather than a platform or marketplace — interest, fees and ancillary charges on installment receivables are the core revenue stream, with deposits and weekly/monthly installments structured to align with boda boda rider income cycles.
The technological backbone is a proprietary "Advanced Customer Analysis and Assessment Model" paired with automated decisioning that approves loans in under 15 minutes using only a national ID and mobile-money account, supplemented by GPS telematics installed on financed motorcycles for asset tracking. Underwriting, fraud prevention, and motorbike market-value calculation are handled in-house; loan repayments are collected via Airtel Money and MTN Mobile Money integrations, with Uganda Microfinance Regulatory Authority (UMRA) oversight. Distribution is omnichannel: 29+ direct branches across Uganda (Kampala, Mbarara, Jinja, Mbale, Masaka, Soroti, Kasese, Masindi, Hoima, Fort Portal, Tororo, Mubende, Entebbe, Wakiso), 40+ partner smartphone shops, OEM-aligned motorcycle dealer networks (Verma, Haojue, Honda, Yuvraj, Kevla), a commissioned sales-agent channel, and online applications. Customer acquisition is amplified by brand ambassadors (Bruno K, Ssuna Ben, Ava Peace) and community initiatives such as Boda Boda Galas and volleyball tournament sponsorships. The customer base exceeds 100,000 across products and is concentrated in boda boda riders, vehicle owners seeking liquidity, and smartphone seekers — all segments historically excluded from formal banking.
Mogo firmographics
Firmographics- Name
- Mogo
- Legal name
- Mogo Loans Limited
- Website
- https://mogo.co.ug
- Company type
- Private
- Founded year
- 2019
- Operating status
- Operating
- Headcount range
- 251–500 employees
- Short description
- Mogo Loans Limited is a Uganda-based asset financing company and subsidiary of Eleving Group, providing boda boda motorcycle loans, vehicle logbook loans, and smartphone financing to underserved Ugandan consumers and micro-businesses across 29+ branches.
- Ownership category
- akta.pro rank
Mogo industry classification
Industry- Product category
- Consumer Lending
- NAICS
- Sales Financing (52222)
- SIC
- Personal Credit Institutions (6141)
- akta.pro primary industry
- BNPL for High-Ticket / Longer-Term Installments (FSAKACAN)
- akta.pro secondary industry
- Small-Dollar Short-Term Installment Loans (Non-payday) (FSAKAMAI)
Keywords
Where Mogo is headquartered
LocationHeadquarters
- HQ city
- Kampala
- HQ country
- Uganda
- HQ region
- Africa
Offices25 records
Markets served
Mogo business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Operations, Personnel, Marketing or Sales, Technology or R&D, Infrastructure
Revenue model
- Boda Boda Motorcycle Financing: Asset financing for motorcycles where customers make initial deposits and pay weekly or monthly installments over a repayment period (52, 78, or 104 weeks) to own the motorcycle after full repayment. Interest and fees are charged on the financed amount.
- Car Logbook Loans: Secured cash loans using vehicle logbooks as collateral. Customers retain use of their vehicle while repaying the loan with monthly installments. Covers up to 65% of vehicle value regardless of age or model.
- Smartphone Financing: Financing for smartphones through partner retailers. Customers pay initial deposit (starting from UGX 80,000) and spread balance over daily, weekly, or monthly installments for up to 52 weeks.
- Electric Vehicle Financing: Specialized financing for electric motorcycles (Zembo Thunder, Spiro Ekon) with battery swapping network support, offering competitive pricing with no fuel costs.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Unit Pricing | Monthly | Electric Boda Boda - Zembo Thunder |
| Unit Pricing | Monthly | Electric Boda Boda - Spiro Ekon |
| Subscription | Monthly | Car Logbook Loans - Standard |
| Subscription | Monthly | Logbook Xpress Loans |
| Unit Pricing | Pay-as-you-go | Boda Boda VIP Loans |
| Subscription | Pay-as-you-go | Boda Logbook Loans |
| Unit Pricing | Pay-as-you-go | Smartphone Loans |
Go-to-market motion3 records
Distribution channels5 records
Marketing channels5 records
Mogo product offering
Product offeringCore offering
MOGO Uganda provides asset financing products to underserved Ugandan consumers, primarily motorcycle (boda boda) financing, vehicle logbook-secured cash loans, and smartphone financing. The company offers flexible installment-based lending with daily, weekly, or monthly repayments across terms up to 104 weeks, leveraging a proprietary customer assessment model for rapid credit decisions and operating through 29+ physical branches plus a partner retail network.
Product overview
MOGO Uganda operates as an asset financing company under the Eleving Group, offering a portfolio of loan products centered on mobility and consumer assets. The core offerings include Boda Boda Loans (new, electric, VIP, and second-hand motorcycle financing), Car Logbook Loans, Logbook Xpress Loans, Boda Logbook Loans, and Smartphone Loans. The company provides flexible repayment structures (daily, weekly, monthly installments) across terms ranging from 52 to 104 weeks, targeting underserved Ugandans seeking accessible financing without traditional collateral requirements.
Differentiator
Problem solved
Functional benefit
Quantifiable outcome
- 100,000 smartphones financed in 200 days (10,500%+ growth over 5 months)
- +3 more outcomes
Companies that use Mogo
Customer profileNamed customers6 records
Segments4 records
Ideal customer profiles4 records
Mogo technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration3 records
Feature3 records
Mogo partnerships and signals
Strategic signalPartnerships
19 partnerships are on record, tiered core and minor.
- Tree Adoption UgandacoreEnvironmental partnership to restore Lazarus Forest in Luwero District. MOGO plants 5 trees for every 1,000 loans issued through its sustainability pledge. Partnership includes digital tree tracking via Tree Adoption Uganda's mobile platform.
- Airtel UgandacoreStrategic partnership to launch smartphone loan program. MOGO provides financing while Airtel offers 3GB of free data monthly for three months to smartphone loan customers. Program enables customers to acquire TECNO, Infinix, and itel devices with affordable installments through Airtel stores and MOGO representatives.
- Bethany Land InstituteminorHost partner for tree-planting initiative at Lazarus Forest Reserve in Nandere, Luwero. Founded by Fr. Joseph Kakooza Nyanzi, the institute runs a 160-acre restoration program for the forest ecosystem.
- Groundbreaker TalentsminorPartnership to attract and mentor young female professionals. Groundbreaker Talents members participate in MOGO's environmental initiatives, with some members subsequently employed at MOGO Uganda.
- Boda Boda Riders Cooperative UnioncoreNationwide partnership with boda boda leaders to support riders through motorcycle asset financing, flexible loan repayment structures, road safety awareness campaigns, community engagement, and addressing regional security challenges including cross-border motorcycle theft.
- Verma Co.coreMotorcycle dealership partnership for boda boda loan distribution. Verma Co. outlets serve as locations where customers can purchase motorcycles financed through MOGO.
- HaojuecoreMotorcycle brand partnership for financing popular Haojue models including Haojue Xpress 125 and Haojue EG-125 through MOGO's loan network.
- HondacoreMotorcycle brand partnership for Honda motorcycles available through MOGO's financing network.
- LapaireminorPartner providing free eye testing services at MOGO community events like the Boda Boda Gala, promoting rider safety and wellbeing.
- My DoctorminorHealthcare partner providing free medical check-ups and professional health advice to riders at MOGO community events.
- Ava PeacecoreRenowned Ugandan artist and brand influencer promoting MOGO's car logbook loans and boda logbook loans to her extensive fan base and music audience.
- Bruno K (Bruno Kiggundu)corePopular Ugandan singer and online sensation as brand influencer for MOGO's car and boda logbook loan services. Bruno K brings star power and relatable charm to reach hardworking Ugandans with dreams to chase.
- Ssuna BencoreRenowned Ugandan media personality and entertainer as official Brand Ambassador for MOGO's Boda Logbook Loans product. Known for dynamic radio presence and deep connection to Uganda's vibrant urban culture.
- Mikhail VydryncoreCEO of MOGO Uganda who signed partnership agreements with brand influencers and emphasized company's commitment to uplifting Ugandan talent and fostering financial inclusion.
- Uganda Police ForcecorePartnership with Traffic Police represented by Officer in Charge of Kyambogo Police to promote safe transport and resilient communities. Police participate in branch launches and stakeholder meetings.
- Uganda Microfinance Regulatory Authority (UMRA)coreMOGO Uganda is regulated by UMRA, the Uganda Microfinance Regulatory Authority, ensuring compliance with microfinance regulations.
- Zembo MotorcyclescoreStrategic partnership to expand electric mobility solutions nationwide. Zembo specializes in assembling electric motorcycles in Uganda with a unique battery-as-a-service model allowing riders to swap discharged batteries for fully charged ones. MOGO provides financing for Zembo Thunder electric motorcycles.
- SpirocoreElectric mobility partnership bringing electric motorcycles to Uganda. Spiro offers the Spiro Ekon model with battery swapping network. MOGO provides financing for Spiro electric motorcycles at Kampala, Mbarara, and Jinja branches.
- Transsion Holdings (TECNO, Infinix, itel)coreSmartphone manufacturer partnership providing TECNO, Infinix, and itel devices for MOGO's smartphone loan program. Partnership enables supply of reliable smartphones at scale through Transsion's popular African brands.
Scale indicators7 records
Recent moves7 records
Expansion highlights6 records
Mogo competitors and assessment
Company assessmentDirect peers
- FINCA Uganda: Ugandan microfinance institution offering group and individual loans to micro-entrepreneurs, including SME asset financing. Direct overlap with MOGO's boda boda and small-business lending in Uganda.
- Pride Microfinance: Ugandan microfinance institution offering personal and SME loans. Directly comparable in product and segment; notably referenced in MOGO's management team background (Mutoigo previously at Pride Microfinance —).
- Branch International: Mobile-first consumer lender operating across Africa and other emerging markets using smartphone data for credit decisions. Comparable to MOGO's smartphone loan segment in technology and target borrower; differs in digital-only distribution versus MOGO's phygital model.
- M-Kopa: Kenya-headquartered asset financing platform for smartphones, solar, and other essential assets sold via daily/weekly installments in East Africa. Closest comparable to MOGO on product (smartphone financing), unit-economics model, and target customer (unbanked/underbanked African consumers).
- BRAC Uganda: Microfinance arm of BRAC operating in Uganda with small-ticket loans to micro-entrepreneurs and SMEs. Comparable on customer segment, loan size, and Uganda footprint.
Broad incumbents
- Equity Bank Uganda: Full-service commercial bank in Uganda offering personal loans, SME loans, and asset financing. Overlaps with MOGO on consumer/SME credit but operates as a broad incumbent across deposits, payments, and corporate banking rather than specializing in informal-sector asset financing.
- Centenary Bank Uganda: One of Uganda's largest indigenous commercial banks offering personal and SME loans. Competes with MOGO on consumer credit but as a diversified bank rather than an asset-financing specialist.
Emerging players
- Spiro: Pan-African electric mobility company with battery-swap network operating in Uganda. Strategic partner of MOGO and adjacent emerging player in EV motorcycle distribution to the same boda boda customer base.
- Zembo Motorcycles: Ugandan electric motorcycle assembler with battery-swap network. Strategic partner of MOGO but also an adjacent emerging player in the same end-customer segment — boda boda riders shifting from ICE to EV.
Others
- Airtel Money Uganda: Mobile money platform operated by Airtel Uganda that MOGO already integrates with for loan repayments (USSD code) and partners with for smartphone loan distribution. Enabling-layer peer with potential to evolve into origination competitor.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Mogo social profiles
Digital presenceMogo compliance and trust
Trust signalCompliance1 record
Mogo financial estimates
Financial estimateRevenue estimate
Valuation estimate
Mogo leadership team
Management profileNumber of profiles
Profiles8 records
Mogo funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Mogo M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Mogo
What does Mogo do?
MOGO Uganda provides asset financing products to underserved Ugandan consumers, primarily motorcycle (boda boda) financing, vehicle logbook-secured cash loans, and smartphone financing. The company offers flexible installment-based lending with daily, weekly, or monthly repayments across terms up to 104 weeks, leveraging a proprietary customer assessment model for rapid credit decisions and operating through 29+ physical branches plus a partner retail network.
Is Mogo a public or private company?
Mogo is a private company. It is classified as corporate owned and is currently operating.
When was Mogo founded?
Mogo was founded in 2019. It employs 251 to 500 people.
Where is Mogo based?
Mogo is headquartered in Kampala, Uganda, in the Africa region.
How does Mogo make money?
Four revenue lines are on record. Boda Boda Motorcycle Financing is the primary driver. The others are car Logbook Loans, smartphone Financing and electric Vehicle Financing.
Who are Mogo's main competitors?
Direct peers on record are FINCA Uganda, Pride Microfinance, Branch International, M-Kopa and BRAC Uganda. Broad incumbents are Equity Bank Uganda and Centenary Bank Uganda. Emerging players are Spiro and Zembo Motorcycles. Airtel Money Uganda is listed as an others.
Does Mogo have an API?
No public API is recorded for Mogo.
What industry is Mogo in?
Mogo's product category is Consumer Lending. Its primary akta.pro industry code is FSAKACAN, BNPL for High-Ticket / Longer-Term Installments, with a secondary code of FSAKAMAI, Small-Dollar Short-Term Installment Loans (Non-payday). Its NAICS code is 52222 and its SIC code is 6141.