M-KOPA reaches 10 million customers, six years after its first million

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…