This archive report was first published on 18 November 2019.
On November 18, 2019, OPay, a fintech firm, secured a total of $120 million in its latest Series B funding round. This significant investment comes just a few months after the company raised $50 million in June 2019.
The investors participating in the Series B round include prominent firms such as Sequoia China, Meituan-Dianping, GaoRong Capital, Source Code Capital, Softbank Asia, BAI, Redpoint, IDG Capital, and GSR Ventures.
According to Opera's CFO, Frode Jacobsen, the funding will be utilized to scale OPay's operations in Nigeria and expand its payments product to other markets, including Kenya, Ghana, and South Africa.
OPay is a payment platform developed by Opera Software, enabling users to shop and pay for services and products through their mobile or web browser. The platform is currently available as an Android application and supports card payments with Mastercard and Visa, as well as transfers from banking apps.
Furthermore, OPay operates a range of services, including a bike hailing service (ORide), a food delivery service (OFood), and a wealth management solution (OWealth). In Nigeria, it operates Opera's lending service, OKash.
