Nithio’s Investment and Impact
Nithio is proud to be a part of the investment in M-KOPA, a leading fintech platform that provides digital financial services to underbanked consumers. Our portion of the facility will be used for general corporate purposes and other transaction related costs. It can also be utilized to finance existing indebtedness.
“We are very excited to announce that Nithio has invested in M-KOPA, a fintech platform that is a pioneer in the PAYG space. This investment will contribute to the growth of inclusive credit services in the digital credit platforms industry.”
-Kate Steel, Nithio CEO
“At M-KOPA, we are working hard to create a positive environment and social impact by systematically addressing the barriers to digital financial services. We are delighted to have the support of Nithio, who align with our vision and mission.”
-Jesse Moore, M-KOPA CEO
M-KOPA’s Innovation and Growth
M-KOPA launched in 2011 and offers access to a broad range of products such as smartphones, electric motorcycles and solar power systems, and other digital financial services such as cash loans and health insurance. M-KOPA’s flexible credit model allows customers to pay a small deposit and get access to the product immediately. Through a smart digital connection, the company gives customers ownership instantly, which they can pay off through flexible micro-payments. This has allowed M-KOPA to be able to:
- Make credit more accessible by combining digital micropayments with IoT connectivity
- Build one of the world’s most advanced digital credit platforms
- Have over 3 million customers
- Unlock over $1 billion in credit
- Avoid 2.2 million tonnes of CO2
Going forward M-KOPA hopes to:
- Focus on deepening their smartphone coverage in existing areas while expanding its model into new geographies
- Expand its financed product set, including the development of the electric-motorbikes in Kenya
- Drive women’s financial inclusion and reduce greenhouse gas emissions in its East African markets
- Become the leading provider of inclusive credit services for over 10 million customers in Africa over the next few years
About Nithio
Nithio is an AI-driven platform for clean energy investment. The company has standardized credit risk assessments to catalyze billions of dollars of capital into solutions that address climate change and help achieve universal energy access. Nithio does so by lending directly to the off-grid solar sector through its financial intermediary, Nithio FI, as well as supporting other investors to scale their investments by better understanding consumer credit risk. Learn more at www.nithio.com.
About M-KOPA
Founded in 2011, M-KOPA is a fintech platform that provides digital financial services to underbanked consumers by leveraging data to combine digital micropayments with the Internet of Things [IoT] technology. With operations in Kenya, Uganda, Nigeria and Ghana, M-KOPA’s platform has provided over $1 billion in credit and enabled 3 million customers to access smartphones, solar power systems, digital loans and health insurance. The company directly employs nearly 2,000 people across Africa and has created over 10,000 roles for sales agents since the start of 2020. Learn more at https://m-kopa.com/
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