M-KOPA, the pan-African asset-financing startup, says it now serves 10 million customers across Kenya, Uganda, Nigeria, Ghana, and South Africa, six years after crossing the one million-customer mark.
The company said on Wednesday that it now onboards about 10,000 customers daily as it scales its lending business beyond its Kenyan roots.
The milestone builds on M-KOPA’s strong run over the past year. In October 2025, the company reported its first-ever annual profit alongside a 66% jump in revenue. One month later, its Kenyan subsidiary crossed $1.6 billion in credit given to its customers, underscoring growing demand for credit products targeting underserved consumers.
“Every Day Earners are why we do this,” M-KOPA chief finance officer (CFO) Faraimose Kutadzaushe said in a statement. “From our very first customer to this year’s ten millionth, this is proof that a model built for Africa’s Every Day Earners doesn’t just work, it scales and endures. It’s a proud moment for our team, and we’re already looking to the next 10 million.”
The milestones reflect how M-KOPA’s business has evolved since expanding into smartphone financing in 2020. Rather than simply selling financed devices, the company now uses smartphones as a gateway to a suite of financial services for customers largely excluded from formal banking, including device protection.
Nigeria has emerged as a key driver of that strategy. Since entering the market in 2019, M-KOPA has disbursed more than ₦231 billion ($170 million) in credit to over one million customers. The country also became the fastest market in the company’s history to reach the one million-customer milestone.
M-KOPA operates in a competitive asset-financing market where companies including Sun King, d.light, and EasyBuy use smartphones and consumer electronics to extend credit to first-time borrowers. To support its expansion, the company noted that it built its own distribution network of more than 40,000 sales agents across its five markets. M-KOPA said it has maintained average annual revenue growth of 50% since 2020 while processing more than two million customer repayments every day.
“Every Day Earners have always been creditworthy. What they needed was credit built around how they really make a living, not a payslip. Informal has never meant unviable,” said Jesse Moore, co-Founder and chief executive of M-KOPA. “10 million customers on, that’s no longer a belief. It’s proven.”
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