M-KOPA pioneered the credit sales of pay-as-you-go Solar Home System and is the global leader with 75% of all systems sold in 2014 (CGAP estimate). Founded in 2011 by former executives behind M-PESA, the world's leading mobile payment platform, M-KOPA combines mobile payments with GSM sensor technology to enable affordable financing of solar power systems and subsequent additional credit sales.
With FRP support, M-KOPA will provide over 300,000 customers in rural Tanzania (by June 2020) with innovative credit services that are affordable and accessible, and which address rural customers' most pressing needs. M-KOPA predicts that FRP funding will lead directly to a total of US$58m in credit being provided to rural customers for productive asset purchases by 2020.
M-KOPA's innovative technical solution utilises mobile connectivity and smart data to open a line of credit for underserved rural customers.
Mr. Jesse Moore, Chief Executive Officer and Co-Founder of M-KOPA Solar, M-KOPA, LLC
- FRP contribution: USD 2,500,000
- Match funds: USD 13,841,912
- Project period: 2 years
- Reach: 300,000 customers
- Systemic change: M-KOPA's service improves customers' liquidity and allows investment in new assets that directly support increased productivity, profitability and resilience. M-KOPA will also use FRP funds to build the capacity of customers to improve their economic well-being by providing targeted information, advice and support.