Charles Russell Speechlys advises M-KOPA in connection with its $250+ million financing round
Charles Russell Speechlys advised M-KOPA, a leading fintech platform that combines the power of digital micropayments with the Internet of Things (IoT) to provide customers in Africa with access to productive assets such as smartphones, in connection with the equity elements of its recent $250+ million fundraising of debt and equity, one of the largest fundraisings by an African technology start-up and the highest ever for a Kenyan start-up.
M-KOPA, founded in Kenya in 2011, will use this recent financing to grow its customer base. Equity investors include Sumitomo Corporation Group which backed $55m in equity investment, and who will engage closely with M-KOPA on new growth markets and products. Blue Haven Initiative, Lightrock, Broadscale Group, and Latitude, the sister fund to LocalGlobe, also participated in the investment.
Edward Robinson, Legal Director, commented: “We are very pleased to have supported M-KOPA on this monumental fundraising and look forward to seeing their development in this exciting and growing market.”
Jesse Zigmund, M-KOPA General Counsel, commented: “Thank you to Edward, Adrian and the team at Charles Russell Speechlys. Their support was invaluable as we work to scale our business sustainably and help close the economic and digital gender gaps.”
The team was led by Corporate Partner Adrian Mayer and Legal Director Edward Robinson, with support from Rob Birchall on various tax and share scheme incentive elements.
African Law & Business covered the news and the firm's role on the transaction. Read more here.
