Ten million customers now use M-KOPA. The company posted $600 million in revenue for 2025, up 45 percent from the previous year. M-KOPA started in 2011, offering solar system financing. Today, it operates in Kenya, Nigeria, Ghana, Uganda, and South Africa. Three million people joined in just the last year.
Nigeria became M-KOPA's fastest-growing market, with the company reaching one million customers there faster than in any other country in its history.
M-KOPA's growth is not just about customer numbers. The company has moved well beyond solar, now financing smartphones, digital loans, and electric mobility. Many of its customers can't get loans from banks or traditional lenders. The pay-as-you-go model has held up and scaled across several African markets.
Growth strategy and operational scale
Chief Financial Officer Faraimose Kutadzaushe called 2025 a record year. M-KOPA stayed profitable while pouring money into new products, technology, and distribution. The company hired about 200 more full-time staff, a 9 percent jump, and grew its sales agent network by over 5,000. Nearly 50,000 agents now work with M-KOPA. The full-time team has passed 2,500 people, showing the size needed to keep up with demand.
M-KOPA acquired Finnish device-locking technology company KilpiTek for $8 million after December 31, 2025. The transaction was recorded as a non-adjusting post-balance sheet event and did not affect the company's 2025 financial results.
Product diversification and manufacturing push
M-KOPA jumped into smartphone financing in 2020. Since then, it has kept up a compound annual growth rate of 50 percent over five years. Its electric mobility financing arm is also picking up speed, especially in Kenya. More than 10,000 electric motorcycles and three-wheelers financed by M-KOPA are now on the road, according to a ClimateTechList company profile.
At the same time, M-KOPA has invested in making smartphones more affordable. It bought new technology and set up what it calls Africa's largest smartphone assembly plant in Kenya. The new X4 smartphone series, launched this month, shows M-KOPA wants to double down on device financing while growing its digital financial services and electric mobility business.
Implications for financial inclusion
M-KOPA's latest numbers show that millions in Africa still need affordable ways to buy assets. The company has managed to stay profitable while growing fast, proving that pay-as-you-go can work for both business and customers who need access to technology and transport. With daily sign-ups and a wide range of products, M-KOPA has set a new standard for fintech-driven financial inclusion in Africa. Its path points to a future where technology, flexible financing, and local manufacturing keep opening doors to digital and mobility products for people across the continent.
