OPay Digital Services Limited
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OPay Digital Services Limited - overview
Established
2018
Location
Lagos, -, Nigeria
Primary Industry
Financial Services
About
Based in Lagos, Nigeria, and founded in 2018 by CEO Yahui Zhou, OPay Digital Services Limited operates as a developer of a mobile payment platform intended to send and receive money from any bank in Nigeria. In August 2021, OPay Digital Services Limited raised USD 400 million in venture funding, led by SB Investment Advisers, with participation from other investors including Softbank Ventures Asia, DragonBall Capital, and 3W Capital. OPay is a one-stop mobile-based platform for payment, transportation, food and grocery delivery, and other important services in everyday life. It also allows unbanked and underbanked users in Nigeria to send and receive money and pay bills through a network of thousands of agents.
The company generates revenue by charging its users a 3% service fee for every transaction. OPay's monthly transaction volumes exceeded USD 3 billion, driven by its strong network of 300,000 agents and 5 million registered app users. OPay plans to extend its offering to adjacent markets and replicate its successful business model in Egypt and other countries in the region.
Current Investors
Sequoia Capital, GSR Ventures, IDG Capital
Primary Industry
Financial Services
Sub Industries
e-Financial, Consumer Finance, Web Applications
Website
www.opayweb.com
Verticals
FinTech, FinTech, FinTech, FinTech, Mobile Apps
Total Amount Raised
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