M-KOPA, a UK-Kenyan pay-as-you-go fintech, has announced $600 million in annual revenue for the 2025 financial year. This represents a 45 percent increase from the prior year. The company's growth strategy is centered around smartphone financing, which it expanded into in 2020. Since then, M-KOPA has achieved a five-year compound annual growth rate of 50 percent.
In addition to its revenue announcement, M-KOPA confirmed the completion of its acquisition of Finnish software provider KilpiTek Oy on March 26, 2026. The deal was valued at roughly $8 million, with $2.67 million paid in cash and the balance paid in M-KOPA ordinary shares, deferred consideration, and other forms of payment. KilpiTek supplies device-locking, cloud-managed endpoint, and IoT management services.
The acquisition of KilpiTek gives M-KOPA direct control over technology that can remotely restrict financed smartphones when borrowers fall behind on payments. This strengthens a core component of M-KOPA's financing model, which relies on device-locking technology to secure payments. KilpiTek's technology also includes secure connectivity and AI-driven forensics.
M-KOPA's customer base has reached 10 million across Kenya, Nigeria, Ghana, Uganda, and South Africa. The company added 3 million new customers in the past 12 months and now onboards about 10,000 new customers daily. M-KOPA processes micropayments at a rate of 23 transactions per second, demonstrating its ability to handle a large volume of transactions.
The company employs more than 2,500 staff, adding roughly 200 full-time roles in the year. M-KOPA's distribution network now includes nearly 50,000 agents, providing a wide reach for its services. The company's growth has been rapid, with a significant increase in staff and agents.
In addition to smartphone financing, M-KOPA also plays a role as an electric-mobility financier. Over 10,000 electric motorcycles and three-wheelers are now operating in Kenya, demonstrating the company's diversification into new areas. This expansion into electric mobility is a significant development for M-KOPA.
M-KOPA's acquisition of KilpiTek and its strong revenue growth demonstrate the company's commitment to expanding its services and strengthening its financing model. With a large customer base and a significant presence in several African countries, M-KOPA is well-positioned for continued growth. The company's focus on device-locking technology and electric mobility will likely remain key areas of focus.
Key points
- M-KOPA reports $600 million in annual revenue, a 45 percent increase from the prior year.
- M-KOPA acquires Finnish IoT firm KilpiTek for $8 million, expanding its control over device-locking technology.
- The company's customer base reaches 10 million across five African countries, with 3 million new customers added in the past 12 months.
