July 1, 2014
On 30th June 2014, Kenyan based global mobile money payments acceptance, SME loan and business intelligence firm – Kopo Kopo – announced a big milestone. The company stated that it has processed its 1 Millionth payment last week.
Kopo Kopo processed its 1,000,000th payment via Lipa na M-Pesa last week, states the release. Its first eve payment through Lipan a M-Pesa was made on 28th March, 2012.
Last year, Kopo Kopo raised $2.6 million in Series A financing from Javelin Venture Partners to fuel its growth, according to Techmoran.
In May, Kopo Kopo launched Grow With Us, terming it as the fastest way to get cash to local SMEs to help them grow fast and avoid the processes and collateral required.
We’re lucky to have identified a solution to a real and significant market failure. It’s been an incredible journey so far, but we’re just getting started, Ben Lyon, Kopo Kopo Director told TechMoran. The firm has experienced twenty-seven consecutive months of growth and now service roughly 15,000 SMEs throughout Kenya, he added.