OPay, a Nigeria’s leading mobile wallet and motorbike ridesharing provider, raised $120m in Series B funding.
Backers included Meituan-Dianping, DragonBall Capital (The Investment fund backed by Meituan-Dianping), GaoRong Capital, Source Code Capital, SoftBank Ventures Asia, Bertelsmann Asia Investments (BAI), Redpoint China, IDG Capital, Sequoia Capital China and GSR Ventures.
The company plans to use the new capital to further accelerate its expansion across its multiple verticals, as well as entering new African markets.
Incubated by Norwegian based, global consumer Internet company Opera (Nasdaq: OPRA) and led by Mr. Yahui Zhou, CEO, OPay is a one-stop mobile-based platform for payment, transportation, food & grocery delivery, and other services. Millions of users in Nigeria use OPay to send and receive money, pay bills, obtain transportation and order food and groceries.