M-KOPA, a UK and Kenyan pay-as-you-go fintech, has achieved a significant milestone, reaching $600 million in annual revenue. The company has also acquired KilpiTek Oy, a Finnish software company, in a transaction valued at approximately $8 million. This acquisition marks a strategic move to strengthen M-KOPA's control over a critical component of its technology stack. The deal was completed on March 26, 2026.
The acquisition of KilpiTek brings device-locking and related technology services under M-KOPA's direct control, enabling the company to manage financed devices more effectively. KilpiTek's technology portfolio includes cloud-managed endpoint and IoT systems, digital locking and unlocking, secure connectivity, AI-driven digital forensics, and system security hardening. This technology allows M-KOPA to remotely restrict financed smartphones when customers fall behind on repayments.
M-KOPA's revenue increased by 45% in its 2025 financial year, with the company serving 10 million customers across Kenya, Nigeria, Ghana, Uganda, and South Africa. The company has experienced rapid expansion, with 3 million customers joining in the past 12 months alone. M-KOPA's customer base has grown significantly since it began providing financed solar systems in 2011 and expanded into smartphone financing in 2020.
The company's growth is reflected in its customer onboarding and payment processing capabilities. M-KOPA now onboards approximately 10,000 new customers every day and receives micropayments at a rate of 23 times per second. The company employs more than 2,500 full-time employees and has a large distribution network, with nearly 50,000 people earning income through its sales network.
M-KOPA's expansion strategy includes increasing investment in the design and manufacture of affordable smartphones. The company has opened what it describes as Africa's largest smartphone-assembly factory in Kenya and launched its latest generation of smartphones, the X4 series. Electric mobility is also a key area of focus, with over 10,000 electric motorcycles and three-wheelers financed by M-KOPA now in operation across Kenya.
According to Chief Financial Officer Faraimose Kutadzaushe, 2025 was a record year for M-KOPA, with customer and revenue growth reaching new highs. The company maintained profitability while reinvesting in its products, technology, and distribution to scale its reach across Africa's massive, underserved market. M-KOPA is still in the early stages of its growth trajectory, with significant potential for further expansion.
The acquisition of KilpiTek and M-KOPA's growth into new markets and products reflect the company's evolution from a provider of financed solar systems to a broader consumer-financing platform. With 15 years of experience and a growing portfolio spanning smartphones, digital credit, and electric mobility, M-KOPA is well-positioned for continued growth and innovation in the fintech sector.
Key points
- M-KOPA reaches $600 million in annual revenue and acquires KilpiTek Oy for $8 million
- The acquisition strengthens M-KOPA's control over device-locking technology, supporting its pay-as-you-go financing model
- M-KOPA serves 10 million customers across five countries and has expanded into new markets, including electric mobility and digital loans
