M-KOPA, the asset financing platform that offers underbanked African customers access to “productive assets” and the ability to pay for them via digital micropayments, has secured more than $250 million in new funding.
The capital injection includes $55 million in equity and over $200 million in debt, huge sums in both categories that testify to strong fundamentals and solid performance for any growth-stage company in this venture capital’s current contraction. Following the $75 million in equity the Kenyan-based fintech announced last March, M-KOPA has raised $245 million in equity funding since its inception in 2011.
Japanese-based trading house Sumitomo Corporation, which M-KOPA co-founder and CEO Jesse Moore on a call with TechCrunch described as the type of investor whose long-term visions complement M-KOPA’s aspirations, led the growth equity capital, donating the lion’s share at $36.5 million.
“They share with us a conviction that even though there might be wobbles in the…
