Payment Fintech OPay Secures $400m in Series C Round

OPay, a mobile payment fintech based in Nigeria, Africa, has secured $400 million in a Series C funding round led by SoftBank's Vision Fund 2 with participation from DragonBall Capital, Sequoia Capital China, Source Code Capital, SoftBank Ventures Asia, Redpoint China and 3W Capital.

OPay plans to use the new capital to strengthen its position in established markets as well as accelerate its expansion to other countries in Africa and the Middle East.

Launched in Nigeria in December 2018, OPay provides offline and online payment and digital wallet services with the aim of expanding the use of digital financial services in emerging countries and across unbanked populations.

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Yahui Zhou, CEO of OPay, said, "We want to be the power that helps emerging markets reach a faster economic development."