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By Monica Muema
fintech platform, M-KOPA has secured $75M in Growth Equity funding led by Generation Investment Management and Broadscale Group’. Since its launch, the firm has served 2million customers to date.
Launched in 2011, M-KOPA combines the power of digital micropayments with the Internet-of-Things [IoT] technology to make financing more accessible to underbanked customers and enable them to build ownership of their assets as well as their credit histories.
The company will use its raise to expand into additional countries, adding to its hubs in Kenya, Uganda, Nigeria and Ghana, as well as scale its financial service products beyond asset financing, including health insurance, cash loans and BNPL merchant partnerships.