Thursday
July 11
2019

Opera Founded Startup OPay Raises $50m for Mobile Finance in Nigeria

By Jake Bright

OPay, an Africa-focused mobile payments startup founded by Norwegian browser company Opera, has raised $50 million in funding.

Lead investors include Sequoia China, IDG Capital and Source Code Capital. Opera also joined the round in the payments venture it created.

OPay will use the capital (which wasn’t given a stage designation) primarily to grow its digital finance business in Nigeria — Africa’s most populous nation and largest economy.

OPay will also support Opera’s growing commercial network in Nigeria, which includes motorcycle ride-hail app ORide and OFood delivery service.

Source: TechCrunch (link opens in a new window)

Categories
Finance
Tags
digital finance, digital payments, emerging markets, financial innovation, financial services, startups