M-KOPA surpasses 3 million active customers, unlocking $2 billion in credit for the unbanked

M-KOPA, the fintech firm known for its pay-as-you-go financing for everything from smartphones to electric motorbikes, has hit a major milestone: 3 million active daily customers. In its 2025 Impact Report released today, the company confirmed it has now deployed over $2 billion in credit to micro-entrepreneurs and gig workers across Africa, a demographic largely ignored by traditional banks.

The new figures show a significant jump in user satisfaction, with 9 out of 10 customers reporting that M-KOPA has improved their quality of life, up from 8 out of 10 in the previous year. While the company has served 7 million people since it launched in 2011, the focus on 3 million active users signals a strategy geared towards long-term engagement rather than just initial sales.

“What matters most to us is how many people we’re actively serving every day,” said Jesse Moore, Co-Founder & CEO of M-KOPA. “When we ask customers,’ does M-KOPA make your life better?’ 9 out of 10 say yes. That’s tangible and meaningful impact on millions of lives.”

M-KOPA’s entire model is built for what it calls “Every Day Earners”—people who make their income daily in Africa’s huge informal sector. These are the boda boda riders, small-scale traders, and online freelancers who often lack the formal credit history or salaried payslips required to get a loan from a bank. The company bridges a critical gap in markets like Kenya, where internet penetration is high but the cost of a smartphone remains a major barrier to entry.

Since 2020 alone, M-KOPA has enabled 2.5 million people to get their first-ever smartphone. The impact is particularly pronounced for women, with 81% of female customers stating they could not have afforded a smartphone without M-KOPA’s financing model.

For many, the phone is just the beginning. The report reveals that for 55% of its customers, signing up with M-KOPA was their first interaction with any formal financial product. The platform has also become a gateway to other services, with 67% of customers accessing health insurance for the first time through the company.

Crucially, these devices are not just for consumption. According to the report, 70% of customers use their M-KOPA financed smartphone to generate income, and a majority (59%) report earning more money since they got their device.

The company’s growth has a direct local economic impact. In 2024, M-KOPA spent $236 million on local procurement and now works with a network of over 35,000 sales agents across the continent, a 17% increase from the previous year. For more than half of these agents, it was their first formal income-earning opportunity.

With a growing focus on sustainability, the company has also financed over 4,000 electric motorbikes and processed 127,700 “circular economy” products (refurbished devices), which it claims has avoided 46,000 tonnes of CO₂ emissions.

Now operating in Kenya, Uganda, Ghana, Nigeria, and South Africa, M-KOPA has set its sights on an even more ambitious goal: serving 10 million active customers by the end of the decade.