M-KOPA, a Pan-African pay-as-you-go financing company, acquired Finnish communications company KilpiTek Oy for $8 million in March 2026. The acquisition gives M-KOPA access to the company’s remote device-locking software and was a cash-and-stock transaction.
M-KOPA acquired 100% of KilpiTek’s voting shares, paying $2.67 million in cash and the balance in equity. The fintech disclosed this in its financial filings with the UK’s Companies House on October 5, 2026.
“The transaction is intended to strengthen the group’s control over a critical component of its technology stack and support ongoing product and sourcing strategy,” the company said.
Read: How M-KOPA turned smartphones into Nigeria’s most enforceable collateral
Its ability to remotely lock phones after payment defaults is a key factor in the lending market. Startups have struggled because a lack of formal credit data makes it risky to predict who will repay loans, leading to frequent defaults. The company achieved profitability in 2024. Last year, Nigeria became its fastest-growing market.
The company has used the software since inception. During its solar era, it built its entire credit model on machine-to-machine (IoT) solar locking. Now, in mobile phones, it relies on third-party licensed mobile-locking software—predominantly Samsung Knox and HMD Global’s Softlock.
The acquisition aims to protect profit margins and gain full control of the collateral.
According to the company’s profile, Kilitek was founded in 2023 by five cofounders. Further details as to what happens to the team are not revealed in the statements.
Last updated: October 8, 2026
