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In Brief: Payment Startup OPay Raises US$50M For Nigeria Expansion

OPay

Funding

In Brief: Payment Startup OPay Raises US$50M For Nigeria Expansion

OPay, a payment startup focused on Africa has raised US$50 million in funding.

OPay which was founded by Norwegian browser company Opera, will use the new capital to grow its digital payment platform across Nigeria.

Lead investors in this round included IDG Capital, Sequoia China, IDG Capital, and Source Code Capital.

Read: Pan African TravelTech Firm, HotelOnline Raises US$320,000 From Sharavan Shroff, Existing Investors

According to the company, OPay has 40,000 active payment agents in Nigeria processing daily transactions worth more than US$5 million positioning it as the largest mobile transaction provider in the country.

Opay launched in 2018 providing mobile payment services and has since launched motorcycle ride-hail app ORide and OFood, a food delivery service; hence positioning Opera, the parent company towards becoming a multi-service commercial internet platform in Africa.

 

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