M-KOPA is a fintech platform established in 2011 with a mission to make financing for everyday essentials accessible to everyone. The company operates in Kenya, Uganda, Nigeria, and Ghana, offering digital financial services to underbanked consumers through the use of digital micropayments and IoT technology. The platform has facilitated over $1 billion in credit and provided 3 million customers with access to smartphones, electric motorcycles, solar power systems, digital loans, and health insurance. M-KOPA has significantly contributed to the African job market, employing nearly 2,000 people directly and creating over 10,000 roles for sales agents since the beginning of 2020. The last funding round secured by M-KOPA was a $51.00M Debt Financing investment in May 24, 2024, led by U.S. DFC. This reflects the confidence of investors in the company's growth potential and its ability to make a meaningful impact in the fintech space. With its focus on leveraging technology to address the financial needs of underserved communities, M-KOPA is poised for further expansion and innovation within the Finance, Financial Services, and Fintech sectors from its headquarters in Kenya.
Funding Stage | Amount | No. Investors | Investors | Date |
---|---|---|---|---|
Debt Financing - M | $51.00M | 1 | 24 May 2024 | |
Convertible Note - M | $20.00M | 1 | 01 Aug 2023 | |
Venture Round - M | $55.00M | 5 | Sumitomo, Broadscale | 15 May 2023 |
Venture Round - M | $75.00M | 6 | Broadscale | 01 Mar 2022 |
Venture Round - M | $10.00M | 1 | 01 Nov 2021 |