M-KOPA, the UK and Kenyan pay-as-you-go fintech, has reached US$600 million in annual revenue and acquired Finnish software company KilpiTek Oy in a transaction valued at approximately US$8 million, as the company marks 15 years since its founding.
The KilpiTek deal included approximately US$2.67 million in cash, with the remaining US$5.33 million comprising M-KOPA ordinary shares, deferred consideration and other consideration.
M-KOPA said revenue increased 45% in its 2025 financial year, while its customer base reached 10 million across Kenya, Nigeria, Ghana, Uganda and South Africa.
The company said 3 million customers joined M-KOPA in the past 12 months alone, highlighting the rapid expansion of its consumer-financing business as it moves beyond its original solar-financing model into smartphones, digital loans and electric mobility.
M-KOPA completed the acquisition of KilpiTek on March 26, 2026. The Finnish software company provides device-locking and related technology services spanning endpoint, cloud and mobile IoT management.
“The transaction is intended to strengthen the Group’s control over a critical component of its technology stack and support ongoing product and sourcing strategy,” M-KOPA said in its financial disclosure.
The acquisition gives the firm direct control of technology that allows financed smartphones to be remotely restricted when customers fall behind on repayments. The capability is a key part of M-KOPA’s pay-as-you-go financing model, allowing the company to manage financed devices without relying entirely on an external technology provider.
KilpiTek’s technology portfolio includes cloud-managed endpoint and IoT systems, digital locking and unlocking, secure connectivity, AI-driven digital forensics and system security hardening.
The Finnish company also develops software and mobile applications and provides technology supporting pay-as-you-go and micro-financing models.
The acquisition comes as M-KOPA celebrates 15 years since it was founded in 2011. The company began as a provider of financed solar systems before expanding into smartphone financing in 2020.
Since entering smartphone financing, M-KOPA said it has recorded a five-year compound annual growth rate of 50%, helping transform the company into a broader consumer-financing platform.
“2025 was a record year for M-KOPA, with customer and revenue growth reaching new highs,” said Chief Financial Officer Faraimose Kutadzaushe.
“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. We are still very early in our growth trajectory.”
M-KOPA now onboards approximately 10,000 new customers every day and receives micropayments at a rate of 23 times per second.
The company employs more than 2,500 full-time employees and added approximately 200 new full-time roles during the year, representing a 9% increase in headcount. More than 5,000 new sales agents also joined its distribution network, taking the number of people earning income through its sales network to nearly 50,000.
M-KOPA said customers are increasingly using more than one of its products over multi-year relationships, including smartphones, digital loans and electric mobility products.
The company has also established itself as an electric-mobility financier in Kenya. More than 10,000 electric motorcycles and three-wheelers financed by M-KOPA are now in operation across the country.
Smartphones, however, remain central to its expansion strategy. M-KOPA has increased investment in the design and manufacture of affordable smartphones, including through technology acquisitions and the opening of what it describes as Africa’s largest smartphone-assembly factory in Kenya.
The company launched its latest generation of smartphones, the X4 series, this month.
The KilpiTek acquisition strengthens the technology layer supporting that business by bringing device-management and locking capabilities under M-KOPA’s direct control.
For M-KOPA, the deal comes at a significant point in its development. Fifteen years after starting with financed solar products, the company now has 10 million customers, US$600 million in annual revenue and a growing portfolio spanning smartphones, digital credit and ele
