M-kopa Hits $600M FY2025 Revenue and 10M Customers

In Short

M-KOPA says it has reached 10 million customers and posted $600 million in FY2025 revenue. The company reported 45% year over year growth.

What Happened

M-KOPA said it has now served 10 million customers across five African markets, marking 15 years since it launched.

The company also reported record FY2025 revenue of $600 million. It said that figure is up 45% compared to the prior year.

M-KOPA is best known for pay as you go (PAYG) financing, which lets customers get a device or service upfront and repay in small instalments over time, similar to buying on lay-by but with a phone and digital repayments.

Reaching 10 million customers suggests the company has continued to scale distribution, collections, and customer support operations. Those are the unglamorous parts of consumer credit that determine whether growth is profitable.

Why It Matters

For Africa’s consumer finance market, M-KOPA’s numbers are a signal that demand for asset-backed credit is still strong. In many markets, smartphones and household devices remain out of reach for cash buyers.

A 45% revenue jump also shows the business can grow even as investors push for clearer unit economics and better risk controls in lending. That is relevant for fintechs and PAYG players that rely on repeatable repayment behaviour.

For founders and operators, the milestone is a reminder that scale in lending is often built through operational execution, not just app downloads. The ability to underwrite customers, manage defaults, and keep collections efficient matters as much as product design.