OPay raises USD 120 mln in series B funding

Tuesday 19 November 2019 11:47 CET | News

OPay has announced that it raised USD 120 million of series B funding, less than 6 months after it announced its last funding round of USD 50 million in June 2019.

The company, which was incubated by Norwegian based, global consumer Internet company Opera, is a Nigeria-based mobile wallet and motorbike ridesharing provider. The company plans to use the new capital to further accelerate its expansion across its multiple verticals, as well as entering new African markets.

OPay launched its mobile payment service in August 2018, creating an infrastructure on which the company is now adding new services. The agent-centric mobile payment operation focused on reaching the unbanked population of Nigeria. Additionally, OPay’s motorbike ridesharing service has become the largest of its kind in Nigeria, more than tripling daily rides over the past three months, and the company recently launched additional services around food delivery and cashless payments for offline businesses.

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Keywords: Opay, funding, e-wallet, unbanked, risesharing, food delivery
Categories: Payments & Commerce
Countries: Nigeria
This article is part of category

Payments & Commerce