The digital financial services provider achieved a 42% compound annual growth rate between 2020 and 2023, with revenue growth accelerating to 65% in 2024.

The company specializes in providing smartphone financing and mobile financial services to underbanked populations across Africa. More than half of M-KOPA’s customers gain internet access for the first time through its devices. The platform has issued millions of credit, insurance, and subscription products to date.

“We now onboard a new customer every nine seconds,” said CEO Jesse Moore. “Our payment systems process 15 transactions per second, giving us unique insights into the financial needs of everyday earners.”

In 2023, M-KOPA established East Africa’s largest smartphone assembly plant, producing one million units annually and creating 300 local jobs. The company’s branded smartphones captured 20% of Kenya’s market in 2024.

M-KOPA’s sustained growth reflects the expanding digital finance sector in Africa, where innovative solutions are addressing financial inclusion for the continent’s growing population of underbanked consumers.