Opera Backed Fintech Opay Secures 120 Million Investment

Olowo by Olowo - 06:16 AM Nov 19, 2019

Just recently, fintech-backed corporation, OPay got a sum of $120 million worth of investment from a series B high profiling Chinese investors to grow across Africa.

Established in 2018, OPay, which began operations to provide digital services had initially raised the sum of $50 million earlier this year to finance its goal.

According to a recent report, OPay intends to make use of the recent investment to extend its digital services across all other West African Countries and some parts of South Africa.

Gracing the investments round includes the likes of Softbank Asia,  Sequoia China, IDG Capital, Meitun-Dianping as well as GaoRong ventures.

Since its inception, OPay has amassed more than 140,000 active agents and gets nothing less than $10 million daily transactions.

As regarding backings from Opera, it is almost impossible not to know why their stands is solid. The web and software design corporation has profoundly become dynamic in the digital currency circle and in the African shopper showcase.

Its eponymous web program is only second to Google Chrome as been used on the African landmass, as per 2018-2019 statistics from Statcounter.com

The organization effectively seeks after web 3.0 development and dynamically coordinated crypto wallet and payments-service into its system lately.

Opera Has Looked To Expose Africa To Its Web 3.0 Network

"Web 3.0" is a term that was at first instituted to allude to endeavors to build up a semantic web, and is progressively used to allude to the development of an increasingly astute, open and appropriated network, which could incorporate the use of blockchain, decentralized processing and blockchain network.

Notably, Africa-based new companies — including OPay, PalmPay among others — have verified a common goal of $240 million from 15 distinctive investors from China in just the last few months.

As far as the undeniably dynamic fintech and cross-outskirt payments space, Nigeria-based Interswitch as of late hit a unique status following value speculation from Visa and is looking at going global soon enough.

From all indications,  the emergence of the blockchain network in Nigeria is growing expansively, with officials initiating a statutory system for crypto and blockchain system.

About The Author

OlowoI am olowoporoku adeniyi, writer, editor and crypto evangelist, with five years experience in the Blockchain industry.


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