8 June 2012
Kopo Kopo, a Nairobi based mobile payment startup, recently graduated from the incubation at m:lab East Africa, an iDisc listed incubator in Kenya.
Kopo Kopo was founded with the idea to improve access to financial products in resource-poor countries back in the summer of 2010. With a skeleton workforce of two co-founders Dylan Higgins and Ben Lyon, the company set up base in Nairobi and enjoyed the rapid growth in the Kenyan mobile payment market, where now 70% of adults pay for goods and services with their cell phones.
The Kopo Kopo team discussing human-centered design
Kopo Kopo’s successful debut as the finalist among the 25 mobile startups at Africa’s “Silicon Savanna” - Pivot 25 (now Pivot East) - attracted the attention in ICT mobile payment field. Last year, Kopo Kopo won the chance to be one of the companies incubated at m:lab East Africa’s iHub, receiving supports of various kinds – a quiet and space for team building and expansion, improved access to investors, mentors and potential partners, and quickly grew to a team of 12 employees working from business development to software engineering. Kopo Kopo also completed several iterations of its mobile money-based business intelligence platform and developed an Android version of its service during its incubation at m:lab.
The name Kopo Kopo comes from kobboh kobboh, the Krio word for money. Kopo Kopo will continue to create a world-class platform to enable small and medium business to accept mobile payments and build relationships with their customers.
Interview with Founder of Kopo Kopo, Benjamin Lyon.
Other press releases about Kopo Kopo:
MarketWatch - Your smartphone may replace your credit cards
VentureBeat - The wallet is dead, and Kopo Kopo is digging its grave
CNN - Pivot 25 and the Silicon Savannah