Pan-African fintech company M-KOPA has reached the milestone of 10 million customers, 15 years after its founding, as it posted record revenue of US$600 million (about KSh77 billion) for the 2025 financial year.
The revenue represents a 45 per cent increase from 2024, underscoring the rapid expansion of digital financial services and asset financing across some of Africa’s most underserved markets.
M-KOPA, which began operations in 2011 as a provider of financed solar systems, said three million customers joined its platform over the past 12 months, with growth recorded in Kenya, Nigeria, Ghana, Uganda and South Africa.
The company currently onboards about 10,000 new customers every day and processes approximately 23 micropayments per second, highlighting the scale of its digital payments infrastructure.
Expansion beyond solar financing
M-KOPA has significantly diversified its business since entering the market, moving beyond solar financing into smartphone financing, digital loans and electric mobility.
The company entered smartphone financing in 2020, a move that has helped expand access to digital devices among consumers who may not be able to afford smartphones through traditional upfront payment models.
Its latest growth figures also point to increasing customer adoption of multiple products over longer periods, with customers building multiyear relationships with the platform.
M-KOPA has also expanded into electric mobility, having financed more than 10,000 electric motorcycles and three-wheelers, which are currently operating across Kenya.
The electric mobility business comes as Kenya continues to see increased investment in electric motorcycles, as businesses and consumers seek alternatives to conventional petrol-powered transport.
Jobs and agent network expand
M-KOPA’s growth has also translated into additional employment opportunities.
The company added about 200 full-time positions during the year, representing a 9 per cent increase in its workforce. It now has more than 2,500 full-time employees across its markets.
Its distribution network has also grown, with more than 5,000 new sales agents joining during the year.
Overall, M-KOPA says it has created income-generating opportunities for nearly 50,000 sales agents, making its agent network an important part of its expansion strategy.
“2025 was a record year for M-KOPA, with customer and revenue growth reaching new highs. We maintained profitability while reinvesting as much as possible in our products, technology and distribution to scale our reach across Africa’s massive, underserved market of everyday earners,” Chief Financial Officer Faraimose Kutadzaushe said.
The chief financial officer added that the company remained in the early stages of its growth trajectory.
Five years of rapid growth
M-KOPA said it has recorded a 50 per cent compound annual growth rate over the past five years, reflecting the company’s aggressive expansion across consumer financing and digital financial services.
Its growth also illustrates a broader shift in Africa’s fintech sector, where companies are increasingly combining payments, credit, asset financing and digital services rather than relying on a single product.
For M-KOPA, the strategy has been to use its financing and payments infrastructure to give consumers access to products such as smartphones, digital credit and electric vehicles through flexible payment models.
The company’s latest milestone therefore marks a significant shift from its original solar-focused business into a broader asset-financing and fintech platform serving millions of African consumers.
With 10 million customers now on its platform, M-KOPA’s next phase of growth is likely to depend on deepening customer relationships, expanding its product portfolio and maintaining profitability as it scales across Africa.
