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
-
Burkina Faso Posts $1.6 Billion Trade Surplus in Q4 2025 on Gold Exports
10:29
-
Ghana and Zimbabwe Deepen Ties with Ten New Agreements
10:24
-
West Africa’s Cashew Ambitions Undercut by Surge in Semi-Processed Exports, Expert Says
08:38
-
Investment Pledges Raise Hope for 200,000 Jobs in South Africa’s Tight Labor Market
08:19
-
Togo clears accession to two international nuclear safety conventions
21:03
-
Cameroon, Switzerland Sign MoU Positioning Obala Institute as Central Africa Agri-Research Hub
19:12
-
Cameroon Signs Digital Trade Agreement with ITC to Connect Small Businesses to Global E-Commerce
19:09
-
Cameroon Steps Up Efforts to Promote Local Rice, Cut Import Dependence
16:59
-
Togo flags price risks from Middle East conflict
15:59
-
Togo begins digitizing foreign affairs services in four-week project
15:37
Operator explores renewable energy partnership with Italy’s Ascot Energy Move aims to stabilize p...
A $147M Novastar Ventures fund backed by major Japanese firms offers co-investment rights int...
First investor town hall since 2021 signals renewed engagement with markets Authorities hi...
Arise IIP plans to invest more than $3 billion in Kenya over five years The company wi...
Efforts to reinforce health systems are gaining pace across Africa, with this week’s developments fo...
Burkina Faso recorded a $1.6 billion trade surplus in Q4 2025, up sharply from the previous quarter. Gold accounted for 96.8% of total...
Ghana and Zimbabwe signed 10 bilateral agreements covering strategic sectors. Trade between the two countries remains limited despite historic...
Exports of semi-processed cashew kernels to Vietnam are rising across the region Experts warn the trend undermines local value addition and...
SAIC 2026 investments are expected to create over 200,000 permanent jobs Projects already underway in energy and infrastructure are driving...
The Bijagos Archipelago, located off the coast of Guinea-Bissau, stands as one of West Africa’s most extraordinary island systems. Made up of around forty...
RFI confirmed the end of “Couleurs Tropicales” following Claudy Siar’s departure after 31 years. The move follows a series of high-profile exits...