After raising $2.10 million in equity financing, Kenyan payments platform Kopo Kopo is pivoting its business away from the Lipa Na M-Pesa service it offers in partnership with Safaricom to focus on micro-loans to businesses. To this effect, the company has appointed a new CEO to direct the company’s growth and shift in focus.
At the same time, Kopo Kopo’s co-founders Ben Lyon and Dylan Higgins are leaving the company, five years after setting it up. Ben notes that the shift in the company’s focus is necessary, as the company has hit a wall as far as innovation is concerned.
“At heart, I’m an entrepreneur and love to build things, and we’re not at that stage any more with Kopo Kopo,”