Kopo Kopo is kenyan mobile money integration and merchant services platform built by Dylan Higgins, an american entrepreneur. It has recently announced it has raised a $2.6 million in Series A financing led by Javelin Venture Partners with participation of Accion Venture Lab and Vinod Khosla’s Impact Fund, an existing investor.
In the last couple of years, Kopo Kopo has become a premier merchant services platform in Kenya by partnering with mobile operators launching mobile money payment systems.
“Mobile money has emerged as one of the fastest growing consumer products ever, with adoption rates reaching as high as 70% in only five years in Kenya. Javelin is thrilled to support Kopo Kopo’s mission to enable flexible mobile payments for merchants across emerging markets.”said Noah Doyle, a partner at Javelin Venture Partners who will join Kopo Kopo’s board of directors.
Launched in 2010 in Nairobi, Kopo Kopo has been in the forefront of a cashless economy in Kenya having helped thousands of retailers, property owners, restaurant owners and merchants to accept mobile money payments. Vinod Khosla believes Kopo Kopo can do this out of Africa.
“Digital payment acceptance is a fundamental on-ramp to financial inclusion in the global economy and financial safety in the local context,” said Vinod Khosla. “Kopo Kopo is at the forefront of making this happen for merchants in Africa, and soon, around the world.”