Are you looking for information on the opay anniversary, opay current valuation, and how much opay was funded in 2021? You are at the right place.
We will be sharing details of everything you need to know about the fintech company.
What is OPAY?
OPay is an African payment platform that provides web and mobile money services.
Therefore, to put it simply, the Opera browser company created a payment wallet. If you’re wondering how OPay got its name, it was derived from the phrase OPera Payment.
Any Lagosian can confirm that OPay was founded in 2018 and has since grown to be very popular. The payment service is now well-liked in the majority of Nigeria’s major cities, including Enugu, Aba, Ibadan, and Kano.
Through their mobile or web browser, users of the platform can browse and pay for goods and services. Their services initially focused on providing necessities like purchasing mobile data and paying for utilities like electricity and cable subscriptions.
To commemorate its 5-year anniversary in the Nigerian market, OPay Nigeria has officially rebranded and unveiled a new logo.
We must admit that OPay Nigeria, founded in 2018, has grown to over 40 million users, 500,000 agents, and 300,000 merchants.
OPAY current valuation 2023
As of 2023, Opay current valuation is approximately $2B.
In 2021, OPay received $400 million in funding from SoftBank Vision Fund 2, which valued the Nigerian mobile payments platform at $2 billion and made its first investment in Africa. Bloomberg reported.
According to OPay, Sequoia Capital China, Long-Z Capital, the investment arm of Meituan, the largest Chinese food delivery company, Redpoint China, Source Code Capital, SoftBank Ventures Asia, and 3W Capital also took part in the round.
How much was Opay funded in 2021
Opay was funded with $400m in 2021 led by SoftBank’s Vision Fund 2.
The funding was raised on August 23, 2021, from a Series C round. OPay raised around $570 million over three rounds.