More

    Fintech Startup OPay Backed by Opera Gets $120M Investment to Expand Its Africa Operations

    OPay has now secured $170 million in 2019 to push the adoption of Fintech throughout Africa.

    OPay, headquartered in Lagos, Nigeria has raised $120M from a horde of high-profile Chinese venture capitalists as part of its series B round of financing. OPay was launched in 2018 by Opera, the web browser primarily focuses on creating digital compensation solutions that can be used to enhance financial inclusion.

    According to what the company’s official spokesperson communicated to Cointelegraph, OPay had earlier on in the year raised a total of $50 million as part of its series A round of financing.

    Payment Solution to be Expanded Across Africa

    OPay from Opera has indicated that there are plans to use the $120 million raised in its second round of financing to assist it to extend and scale its services beyond Lagos, to other African countries such as South Africa, Ghana, and Kenya, according to TechCrunch report published on November 18th.

    The series B round of financing is said to have involved high-profile financiers such as Softbank Asia, GSR Ventures, Sequoia China, Redpoint, IDG Capital, BAI, Source Code Capital, and GaoRong. According to TechCrunch:

    “Since its initial round of financing held in June, its operations in Nigeria have grown to include a total of 140,000 active agents and has so far managed to hit a daily transaction volume of $10 million.“

    Opera Backing

    Opera is a Norway-based software developer. A large percentage of its owners are of Chinese origin. The developer is active in both the African consumer market as well as in the cryptocurrency sphere. Opera, its web browser by the same name happens to be the second most popular browser in the African market, coming second to Chrome developed by Google, according to data prepared by Statcounter.com for the year 2018/19.

    The software developer is known to actively pursue web 3.0 development including the integration of a payment function in both its PC and mobile products.

    Get Free Email Updates!

    *Action* Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

    I will never give away, trade or sell your email address. You can unsubscribe at any time.

    Daniel W
    Daniel W
    Daniel Wambugu writes daily cryptocurrency and blockchain related articles BitcoinExchangeGuide. His articles have appeared in numerous blogs, media publications, and community forums. He prides himself on once being a beginner and uses his experience to deliver high-quality insightful content for our dear readers. With a knack for reviewing ICOs or researching news, Daniel plans to continue being a top contributor for many years to come.

    [Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

    [Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

    LEAVE A REPLY

    Please enter your comment!
    Please enter your name here

    3,262FansLike
    2,708FollowersFollow
    4,080FollowersFollow

    Live Bitcoin Price & Latest BTC Chart News

    Today's Latest Crypto News

    SEC Files Lawsuits Against Conspirators In Blockchain Terminal's $30 Million Fraudulent ICO

    CG Blockchain Inc., BCT In. (SEZC), has been charged with fraud by the US Securities and Exchange Commission (SEC), for funds raised on an...

    Decentralized Finance (DeFi) Grew To $668 Million In 2019, How Will Taxes Be Calculated?

    2019’s decentralized finance (DeFi) boom that has led to more than $785 million being locked in crypto assets is giving accountants serious headaches. Antoine Scalie,...

    TRON Dev Team, TRONZ, Forks ZCash's Privacy Tech, Zk-SNARKs To Add to MainNet

    TRONZ team is set to implement privacy protocol which is poised to be the biggest Multi-party Computation in blockchain’s history. Tron states that a...

    Chrysler Building's Blockchain Real Estate Owners To Sell Building In Zurich, $135M Cash & ERC20

    The current owner of the Chrysler building is offloading a property valued at around $135 million to a blockchain-based real estate firm. It’s expected...

    Crypto Wallet BRD Expands Core Business, Launches Enterprise Blockchain Service ‘Blockset'

    BRD, a Mobile crypto wallet services provider backed by Ripple as well as SBI Holding, has announced it is expanding to the enterprise sector...

    BitcoinExchangeGuide is a hyper-active daily crypto news portal with care in cultivating the cryptocurrency culture with community contributors who help rewrite the bold future of blockchain finance. Subscribe on Google News, see the mission, authors, editorial links policy, investment disclaimer, privacy policy. Got News? Contact us, we are human too. Note: nothing here is financial advice, do your own research thoroughly.