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Financial inclusion drives African fintech M-KOPA to $400M in ARR
M-KOPA is on track for $400M in revenue this year, having raised over $300M from investors, and extended $1.5B in credit to customers.
This is a testament to the fact that financed phones are a productive asset in people’s lives, and a key part of how every day earners generate their income and participate in the digital economy,” the company said in a statement. Patel claims M-KOPA now runs the largest direct sales force in Sub-Saharan Africa, with over 30,000 active agents who go door-to-door, selling financed phones in their local communities, providing access to products that people might otherwise struggle to reach. While it remains uncertain whether the company plans to raise an equity round — one that could potentially push it into unicorn territory — its $400 million run rate places it among the largest fintechs in Africa by revenue.
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