Fintech Opay attracts $120 mln Chinese investments
Tuesday, 19 November 2019 15:50
Nigeria-based fintech Opay successfully raised $120 million from Chinese investors including venture capitalists Sequoia Capital China, GSR Ventures, Source Code Capital, GaoRong Capital, as well as distribution company Meituan-Dianping.
OPay plans to use the sum to fund expansion in Nigeria, but also in Kenya, South Africa, and Ghana. According to OPay’s Chairman Yahui Zhou, these markets offer a favorable business environment. The new mobilization brings to $170 million the total amount captured by Opay since the beginning of the year. Last June, the payment platform had obtained $50 million from a consortium of investors, mainly Chinese firms.
Founded in 2018 by Opera Software, Opay is a platform that offers mobile payment services. The company also offers on-demand food distribution, transport and micro-credit services. In Nigeria, the software developer Opera wants to strengthen its payment services and introduce digital platforms dedicated to SMEs.
Chamberline MOKO
Live News
-
Togo forecasts 6.5% growth in 2026 as Credit Council sets priorities
04:56
-
Togo outlines priorities as 2026 growth seen at 6.5% amid global risks
04:55
-
After years of delay, Terramin begins work on $471 million Tala Hamza zinc project in Algeria
04:17
-
Nigeria, Finland sign digital cooperation MoU on cybersecurity, infrastructure
03:05
-
Ghana, Colombia Sign Port Partnership to Expand Trade Between Africa and Latin America
03:02
-
Cameroon Commits to New IMF Program as Budget Support Becomes Critical
20:09
-
Cemac Banks Seek More Liquidity as BEAC Offer Falls Short of Demand
19:27
-
Cocoa Prices Edge Up in Cameroon but Fall Far Short of Government Targets
19:18
-
Cameroon Targets $40 Million in Revenue with New Phone Import Tracking System
19:15
-
U.N. mission assesses Togo’s counter-terrorism efforts
18:19
Telecel Ghana to boost network investment by 150% in 2026 Expansion targets capacity, reliabi...
Namibia and Russia agreed to expand cooperation across energy, mining, and agriculture. Both coun...
Four years after Russia’s 2022 invasion of Ukraine, the fertilizer market is facing a new shock as m...
Cameroon signs MoUs for $1.5 billion waste-to-energy projects Plans target waste treat...
Côte d’Ivoire raises 110bn CFA francs, meeting full target Investor demand hits 291bn CFA fra...
Togo forecasts 6.5% growth in 2026, inflation at 1.8% Risks include higher costs, logistics disruptions, tighter financial liquidity Council...
Works began after Algeria resolved land access issues Authorities spent $30 million relocating communities and securing project land Financing...
Deal covers digital infrastructure, cybersecurity, innovation and skills development Agreement builds on prior talks, aligns with European digital...
Agreement targets logistics efficiency, customs, infrastructure modernization Partnership aims to boost trade, though current volumes remain...
Kumbi Saleh is regarded as one of the earliest major political and commercial capitals of West Africa. Located in present-day Mauritania, near the border...
Event highlights growing role of diaspora entrepreneurs across multiple sectors Networks support trade, investment and SME...