Grace Ashiru
Last year, M-KOPA said that its network of more than 10,000 agents had given its underbanked customers over $600 million in loans,over $1 billion in credit to people in Africa who don’t have bank accounts.
With a track record of success in East and West Africa, M-KOPA is getting ready to grow its business in South Africa and test out electric transportation in Nairobi.
In a statement to Techloy, the company said that the capital infusion includes $55 million in equity and over $200 million in debt. This shows the company’s strong fundamentals and impressive success.
Since its start in 2011, M-KOPA has raised $245 million in stock funding. The Japanese trading company Sumitomo Corporation led the most recent round of funding, which gave $36.5 million. Blue Haven Initiative, Lightrock, Broadscale Group, and Latitude also participate in the stock round.
