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Kenya’s M-Kopa sets sights on unicorn club with $250M funding round

Kenya’s M-Kopa sets sights on unicorn club with $250M funding round

PICTURE this: a world where affordable solar panels and smartphones become accessible to those who need them most, even in the most remote corners of Africa. It's not a far-fetched dream any more, thanks to M-Kopa's latest funding round that would allow it to acquire up to 100,000 new customers a month and expand its product portfolio across the continent. Its target markets include South Africa, which has been plagued by pesky power cuts even as it runs pilot projects to finance electric motorbikes to the capital on the growing demand for e-mobility on the continent. The Nairobi-based company recently…
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African digital credit company M-Kopa signs $255 mln in new funding

African digital credit company M-Kopa signs $255 mln in new funding

AFRICAN financing platform M-Kopa has signed a total of $255 million in new debt and equity from Standard Bank and Sumitomo Corporation among others to fund its expansion in Sub-Saharan Africa, M-Kopa said on Monday. Founded in 2011, M-Kopa started its operations in Kenya and has expanded to Uganda, Nigeria and Ghana and says it has to date it has helped 3 million customers to access over $1 billion in credit to buy items like smartphones, solar power systems and health insurance. M-Kopa said Standard Bank led and arranged $200 million in sustainability-linked debt financing, while Sumitomo had injected $36.5 million in…
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