Kopo Kopo, a fintech founded in Kenya announce key appointments to is executive leadership team as it prepares for its next phase of growth or acquisition by Nigeria’s Moniepoint.
The company’s CTO Dennis Ondeng has taken the reins as Chief Executive Officer (CEO). Dennis has been with the firm since its inception in 2011. His extensive experience, including pioneering mobile money technology solutions, positions him well to lead the company into its next phase of growth.
The company’s CEO Chad Larson will serve as Kopo Kopo’s Chief Financial Officer (CFO). Since joining the firm as CEO in 2019, Chad has strengthened the firm’s financial operations and championed innovative lending solutions bringing Kopo Kopo to where it is today. Chad is also a former co-founder and CFO of Nairobi-based M-KOPA which has expanded across several countries in Africa as well.
Rosemary A. Muyeshi takes on the role of Chief Risk Officer (CRO). Known for her no-nonsense approach and strategic mindset, Rosemary will play a critical role in ensuring Kopo Kopo’s continued stability and growth while Kibet Yegon also having been with the company since inception, assumes the position of Chief Technology Officer (CTO). With his strong technical acumen, Kibet is poised to lead Kopo Kopo’s technological initiatives and ensure its infrastructure meets the evolving demands of the businesses it serves.
Founded in 2015 by Tosin Eniolorunda and Felix Ike, as TeamApt, Moniepoint provides back-end services to Nigerian banks and collects payments, accesses loans and helps businesses manage operations with a business banking solution that meets all your needs. In 2019, Moniepoint Group received a switching license in Nigeria. In 2022, it received a banking license from the Central Bank of Nigeria and began offering business banking services to merchants in Nigeria, and in August 2023, Moniepoint Group was cleared to acquire Kenyan fintech Kopo Kopo Inc.
In August last year, the Competition Authority of Kenya (CAK) granted unconditional approval for the acquisition of 100 percent shares in Kopo Kopo Inc. by Moniepoint Inc after a thorough merger analysis by the authority, which concluded that the acquisition would not have negative implications on competition in the digital credit market and would not raise any public interest concerns.
Moniepoint Inc., now operating as an American-based company with subsidiaries in Nigeria and the United Kingdom, sought approval to acquire Kopo Kopo Inc., a fellow American company operating in Kenya under the brand Kopo Kopo Inc.
In 2013, Kopo Kopo raised $2.6 million in Series A financing to hire top talent, expand its platform offering and accelerate global growth beyond East Africa with the goal of incorporating millions of merchants across the economic frontier into the formal financial system.