Kenyan pay-as-you-go lender M-KOPA has bought Finnish software maker KilpiTek Oy for US$8 million, Daba Finance reported.

As a result of the M-KOPA KilpiTek deal, the company now owns the phone-locking technology behind its smartphone loans.

M-KOPA bought the whole of KilpiTek. It paid US$2.67 million in cash. In addition, the other US$5.33 million came in non-cash items, including its own shares, remuneration and deferred consideration.

KilpiTek makes software that can lock or shut down a financed phone from a distance. A lender can use it when a customer falls behind on payments.

M-KOPA customers first put down a deposit on a smartphone. After that, they pay off the rest in daily or regular amounts. Since these loans have no collateral, the option to lock the phone serves as the lender’s security.

The company did not reveal KilpiTek’s revenue, profits or staff numbers. The deal also went through after M-KOPA’s 2025 financial year ended, so it had no effect on that year’s results.

Featured image: Edited by Fintech News UAE, based on image KilpiTek Oy via its website and saurabh Jainth via Magnific.