M-KOPA Acquires Finnish Device-Locking Firm KilpiTek for $8 Million

Kenyan pay-as-you-go startup M-KOPA has acquired Finnish software company KilpiTek Oy in a transaction valued at $8 million, gaining direct control of technology used to lock financed devices.

M-KOPA acquired 100% of KilpiTek’s voting shares in a cash-and-stock deal completed on March 26, 2026, according to the company’s financial disclosures.

Cash and equity consideration

The transaction included $2.67 million in cash. The remaining $5.33 million consisted of equity and other consideration, including M-KOPA ordinary shares, deferred consideration and remuneration.

M-KOPA did not provide further details on the individual components of that non-cash consideration in the disclosed information.

Technology brought in-house

KilpiTek is a Finland-based software business that provides device-locking and related technology services. Its technology allows financed smartphones to be remotely restricted or shut down when customers fall behind on repayments.

M-KOPA’s business model allows customers to obtain smartphones and other products through an initial deposit followed by daily or periodic repayments. Remote device restriction serves as security for the financing arrangement.

The company said the acquisition was intended to “bring in-house a critical device-locking capability” and strengthen its control over an important part of its technology platform.

In a statement included in its financial reporting, M-KOPA said the deal was intended to strengthen its control over a critical component of its technology stack and support its ongoing product and sourcing strategy.

Impact on 2025 reporting

The acquisition was completed after M-KOPA’s December 31, 2025 reporting date and was classified as a non-adjusting subsequent event.

As a result, the transaction did not affect the group’s reported financial position or results for 2025.

M-KOPA’s disclosures did not provide KilpiTek’s revenue, profitability or employee numbers. The company has described the acquisition as part of efforts to strengthen control over technology supporting its smartphone financing operations and to support its phone sourcing strategy.