African fintech OPay raises $400m – Bloomberg
OPay, the startup behind one of Nigeria’s leading mobile payments services, has raised $400 million in a funding round led by SoftBank Vision Fund 2, according to Bloomberg.
Incubated by Norwegian-based consumer internet outfit Opera, OPay launched its agent-centric mobile payments service in August 2018, entering a market with a large unbanked population.
The firm has a network of more than 300,000 agents and monthly transaction volumes of more than $3 billion.
OPay recently moved into Egypt and is set to expand further into the Middle East.