[5][6] In 2010, Moore and Hughes, with banker Chad Larson founded the start-up in Nairobi that became M-Kopa the following year.
[7] Hughes previously set up and ran M-Pesa at Vodafone, a mobile phone-based money transfer, financing and microfinancing service, where Moore also worked whilst completing his MBA.
[15] By December 2016, the company had sold around 400,000 systems in Kenya, Tanzania, and Uganda since its launch in 2011, under CEO Jesse Moore.
[18] In 2018, it was reported that M-Kopa was going to acquire an additional 500,000 photovoltaic solar panels, under chairman Mugo Kibati, in an agreement with Solinc East Africa.
[20] In 2024, the company had extended over $1.5 billion in credit to more than 5 million customers and stated that it employs over 3,000 staff members and 30,000 sales agents across its African markets.
Daily payments are made through M-Pesa, a mobile phone based money system,[24] at about 45 cents a day.
[28] In March 2016, it emerged boldest at the Financial Times Arcelor Mittal – Boldness in Business Awards in the developing markets category.
[31] In addition, M-Kopa was listed in the Financial Times “Africa’s Fastest Growing Companies” rankings three years in a row in 2022,[32] 2023,[33] and 2024.