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# M-KOPA Secures $250 Million Investment to Fuel Growth
- URL: https://www.techloy.com/m-kopa-secures-over-250-million-investment/
- Published: 2023-05-16T14:23:08.000Z
- Updated: 2023-05-16T14:23:54.000Z
- Author: Techloy
- Tags: / News, / Fintech, Tech in Africa

[M-KOPA](https://m-kopa.com/), the African asset financing platform that provides underbanked customers with access to "productive assets" through digital micropayments, has raised over $250 million in new funding.

M-KOPA's business model revolves around financing customers' purchase of products and services, such as smartphones and solar power systems, through micro-instalments, enabling individuals to build their credit history over time.

The new funding will enable M-KOPA to expand its customer base, particularly focusing on driving women's financial inclusion. The company aims to double its 3-million-strong customer base in existing markets and close the gender gap by reaching over 60% female consumers.

[M-KOPA unlocks $600 million in credit for Underbanked Customers in AfricaWith 56% of Africans not owning an account, not even a mobile money account, accessing assets is a gross challenge for individuals, households, and businesses, with telling impacts on small and medium businesses on the continent. This challenge affects how the unbanked and underbanked populations in…![](https://storage.ghost.io/c/c1/a6/c1a6d111-d951-41ad-a392-c1e841210b93/content/images/size/w256h256/2021/07/techloy-dot.png)TechloyOluwajuwonlo Afolabi![](https://images.unsplash.com/photo-1624574337423-7ea725c5540c?crop=entropy&cs=tinysrgb&fit=max&fm=jpg&ixid=MnwxMTc3M3wwfDF8c2VhcmNofDIyfHxzbWFydHBob25lJTIwaW4lMjBBfGVufDB8fHx8MTY2Mjk3NzYxMg&ixlib=rb-1.2.1&q=80&w=2000)](https://www.techloy.com/m-kopa-unlocks-600-million-in-credit-for-underbanked-customers-in-africa/)

Last year, M-KOPA claimed to have provided over $600 million in cumulative credit for its underbanked customers via a network of over 10,000 agents. Providing over $1 billion in cumulative credit for underbanked customers in Africa.

With a proven track record in East and West Africa, M-KOPA is now gearing up to expand its operations to South Africa and pilot electric mobility initiatives in Nairobi.

In a statement shared with *Techloy*, the company disclosed that the capital infusion includes $55 million in equity and over $200 million in debt, demonstrating the company's strong fundamentals and impressive performance. 

Since its inception in 2011, M-KOPA has raised a total of $245 million in equity funding, with the recent funding round led by Japanese-based trading house Sumitomo Corporation, which contributed $36.5 million. Other participants in the equity round include Blue Haven Initiative, Lightrock, Broadscale Group, and Latitude.