M-KOPA, a Kenyan fintech startup, has raised over $250 million in new funding, including $55 million in equity and over $200 million in debt. The funding was led by Sumitomo Corporation and also included participation from investors such as Blue Haven Initiative, Lightrock, Broadscale Group, and Latitude. M-KOPA provides underbanked customers in Africa with access to productive assets through digital micropayments. The company offers financing for products like smartphones and solar power systems, as well as loans and health insurance. M-KOPA's flexible credit model allows customers to pay small deposits and repay through micro-installments. The funding will be used to expand M-KOPA's customer base, extend its financial services offerings, and reduce greenhouse gas emissions. The company also aims to close the gender gap among its consumers and continue driving women's financial inclusion. M-KOPA has provided over $600 million in cumulative credit to its underbanked customers and plans to pilot operations in South Africa and explore electric mobility options like electric motorcycles.

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