opay fintech funding
Fintech Startup OPay Raises $120M From Chinese Investors
November 19, 2019
opay fintech funding
Fintech Startup OPay Raises $120M From Chinese Investors
November 19, 2019

Opera web browser’s, Africa Fintech startup OPay has sealed $120 million in a Series B financing round from a host of high-profile Chinese investors.

Found in 2018, OPay focuses on developing digital payment solutions to promote financial inclusion. It previously raised $50 million in June this year.

Payment Solutions Across Africa

On Nov. 18, TechCrunch reported that OPay reportedly intends to use the new Series B $120 million round to scale and extend its digital payments solution beyond Nigeria to Kenya, Ghana, and South Africa

The round reportedly included big-name venture capital investors such as:

  • Sequoia China
  • Softbank Asia
  • IDG Capital
  • Meituan-Dianping
  • GaoRong
  • Source Code Capital
  • BAI
  • Redpoint
  • GSR Ventures.

According to TechCrunch, since its Series A $50 million round, OPay’s business in Nigeria has grown to 140,000 active agents and hit $10 million in daily transaction volume.

Backing From Opera Browser

Opera is highly active in the crypto space in the African consumer market. The web browser is the second most widely used on the African continent, after Google’s Chrome, according to 2018-2019 data from Statcounter.com.

ALSO READ :  New Ransomware EvilQuest Targets macOS Users Via Infected Installers

In recent years, the company actively pursued web 3.0 development and progressively integrated crypto wallet and payments-functionality into its mobile and desktop products

“Web 3.0” was initially coined to refer to efforts to develop a semantic internet. It is increasingly used to refer to the evolution of a more intelligent, open and distributed web, which could integrate the use of blockchain, decentralized computing, and cryptocurrencies.


Source: TechCrunch | Cointelegraph


Disclaimer

Crypto News Point a news platform of Digital Notice Media Labs is primarily a regular publication of information, commentary and articles focused extensively on fintech, blockchain technology, cryptocurrency, blockchain-based tokens, cryptocurrency market trends, and trading strategies. We do not provide individually tailored investment advice and does not take a subscriber’s or anyone’s circumstances into consideration when discussing investments, nor is Crypto News Point registered as an investment adviser or broker-dealer in any jurisdiction. Information contained herein is not an offer or solicitation to buy, hold, or sell any digital assets.

Affiliate Disclosure: To help support the work we do here at CNP, we often link to products and deals from around the web. Should you buy some of these, we may get a portion of the sale.

We in generally gather content from the major websites. In every article there is always a clear link and attribution to the source publication. If you have any issue with any of our published content taken from your site, kindly let us know so that we can take appropriate action. In any case, the content of the pages of this website is for your general information and use only. It is subject to change without notice.

You May Also like

Jafrin Ahmed

Crypto newbie passionate about creating resourceful content on blockchain technology, cryptocurrencies and decentralized apps.
Share This

Share This

Share this post with your friends!