An African fintech that has grown on the strength of a 30,000-strong team of direct salespeople is moving into profit country by sub-Saharan country. Now, M-KOPA, the pay-as-you-go asset financing platform serving 5 million underbanked Africans, is racing toward a major milestone: surpassing an annual revenue rate of $400 million by year-end. The London-headquartered fintech ended last year with 4 million customers and $248 million in ARR, making this jump particularly notable given the harsh economic backdrop. With currencies plummeting against the dollar and consumer purchasing power squeezed by inflation, maintaining dollarized growth in African markets has been an uphill battle. Yet, M-KOPA has not only weathered these conditions ' it's thriving. The 13-year-old company offers smartphones and other 'productive assets' through flexible digital micropayments, where users pay daily based on the whole cost of the item divided up by 365 days. It claims to have hit profitability since...
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