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
-
Sassou-N'Guesso Sworn In for New Term in Congo, Pledges to Accelerate Development
21:02
-
Jet Fuel Price Surge Raises Risk of Flight Suspensions in Nigeria
19:28
-
Togo tops 100 bln CFA francs in 2026 borrowing on regional market
19:13
-
Senegal: Dakar Airport Passenger Traffic Up 2.45% in Q1 2026
19:10
-
Central African Republic Eyes Congo Route for Fuel Imports
19:04
-
Lome Container Terminal revamps customer service with one-stop model
20:41
-
Industrial Gas Demand in Douala Collapses as Prices and Supply Strain Clients
20:20
-
Douala Port Turns to PPP to Rebuild Its Regional Trade Hub at Boscam
20:07
-
Cameroon Looks to Formalize Cross-Border Trade With Digital Freight Platform
19:54
-
Cameroon Overhauls Procurement Strategy to Unlock Weigh Station Upgrades
19:49
(EBID) - EBID aims to allocate nearly 41% of its commitments to projects with environmental and...
Four major operators—Mauritel, Mattel, Rimatel, and Chinguitel—submitted a combined bid of ...
Operators review 2025 investments, outline 2026 expansion plans Consumer complaints persist...
Algeria launches bid for two NGSO satellite telecom licenses Move aims to expand broadband ac...
Gabon's 7% 2031 Eurobond posted its biggest single-day drop in a year on Wednesday after a new I...
Sassou-N'Guesso sworn in for new five-year presidential term Won 94.8% vote; opposition contests election transparency Pledges reforms amid economic...
Nigerian airlines warn of flight suspensions over soaring jet fuel Kerosene prices jump nearly 300%, far above global increases Supply risks, high...
Dakar airport Q1 passengers rise 2.45% to 735,370 Traffic boosted by AFCON; January busiest month Flights fall 4%, freight up 21.4% Senegal’s...
Central African Republic plans fuel corridor via Congo’s Pointe-Noire Project aims to diversify supply beyond Douala route dependence Structural,...
Lomé is hosting the 9th edition of the International Film Festival of Togo (FIFTO) featuring 33 films. The event promotes African storytelling in...
Fally Ipupa plans a two-part album project combining urban sounds and traditional rumba. The first album “XX” releases on April 17, while “XX Delirium”...