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
-
Algeria Labels French Colonial Rule a Crime in New Law
19:03
-
Zimbabwe and Zambia Advance Strategic Mining Corridor
18:57
-
Togo earmarks CFA1.3 bln to procure 742,902 mosquito nets in 2026
18:01
-
FAO, Togo ministry roll out RuralInvest to improve farm project financing
17:49
-
Togo unveils STELLA project to train 2,000 engineers by 2030
17:42
-
Togo inflation edges up to 1.6% in March, led by housing and energy
17:32
-
Ghana Seeks EU Funding to Fix Rail Bottleneck on Tema–Mpakadan Line
17:08
-
Morocco Joins U.S. Program Linking Farm Aid to Export Growth
17:06
-
At Paris Forum, Cameroon Pitches Concrete Deals to French Investors
15:11
-
Cameroon Accelerates $4.3bn Water Reform Drive with World Bank Support
15:10
EBID aims to allocate nearly 41% of its commitments to environmentally and socially impactful projec...
Flutterwave secures Nigerian banking license to offer credit and savings License enables direct d...
M-PESA evolves into major financial platform with 35 million users Telecoms, fintechs expan...
Algeria launches bid for two NGSO satellite telecom licenses Move aims to expand broadband ac...
Coca-Cola unit trains 260+ SMEs in Namibia business skills Program targets women, youth, disabled...
Algeria’s upper house approved a law classifying French colonial rule (1830–1962) as a crime. Authorities framed the legislation as a legal and...
Zimbabwe and Zambia signed an MoU for a 311 km rail link to support mining exports. The project could reduce transport distances to Beira port by...
Funding would modernize signaling on Tema–Mpakadan line Upgrade aims to allow simultaneous train movements Project tied to broader push to...
Morocco selected under $226 million USDA program for 2026 Initiative blends farm support with expansion of U.S. exports Could back...
Nosy Iranja is one of the most iconic island destinations in northwestern Madagascar, lying in the Mozambique Channel about an hour and a half by boat...
Sungbo Eredo, located in southwestern Nigeria near the Yoruba town of Ijebu-Ode, stands as one of the most remarkable yet overlooked monuments of...