Africa-Focused Mobile Payment Opay, Founded by Opera, Completes $50 Million in Funding

July 11, 2019 10:44 am

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

Sequoia China, IDG Capital and Source Code Capital were among the major investors. 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.

Kunlun Tech, a Beijing-based online game company, and five other Chinese internet companies including cybersecurity firm Qihoo 360, jointly acquired Opera at a final price of US$575 million in 2016.

Source: Techcrunch