About OPay
OPay is a company based in Lagos (Nigeria) founded in 2018 by Yahui Zhou.. OPay has raised $570 million across 3 funding rounds from investors including Meituan, Opera and SoftBank Vision Fund. OPay has completed 1 acquisition, including Finja. OPay offers products and services including OPay App, OPay Debit Card, Owealth, and Airtime Top-up. OPay operates in a competitive market with competitors including Paytm, MoneyGram, Xend Finance, CarePay and Remita, among others.
- Headquarter Lagos, Nigeria
- Founders Yahui Zhou
- Stage Unicorn
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Sectors
Financial Services
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Email
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Phone
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Website
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Social
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- Legal Name Opay Digital Services Limited
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Products & Services of OPay
OPay offers a comprehensive portfolio of products and services, including OPay App, OPay Debit Card, Owealth, and Airtime Top-up. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
App for instant account opening and financial transactions.
Card for secure ATM and online payments with no fees.
Service offering daily interest on funds for easy access.
Feature for recharging airtime with instant cashback rewards.
Funding Insights of OPay
OPay has successfully raised a total of $570M across 3 strategic funding rounds. The most recent funding activity was a Series C round of $400 million completed in August 2021. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 3
- Last Round Series C — $400.0M
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First Round
First Round
(10 Jul 2019)
- Investors Count 16
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Aug, 2021 | Amount | Series C - OPay | Valuation | SoftBank Vision Fund | |
| Nov, 2019 | Amount | Series B - OPay | Valuation | Meituan , Gaorong Capital |
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| Jul, 2019 | Amount | Series A - OPay | Valuation | IDG Capital , Sequoia Capital China |
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| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in OPay
OPay has secured backing from 16 investors, including venture fund and institutional investors. Prominent investors backing the company include Meituan, Opera and SoftBank Vision Fund. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
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Venture capital investments in technology and startups.
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Founded Year | Domain | Location | |
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Redpoint Ventures is engaged in venture capital investments.
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Founded Year | Domain | Location | |
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Tech-driven startups are invested in by Source Code Capital.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by OPay
OPay has strategically engaged in corporate development activities, having acquired 1 company. Notable acquisitions include Finja. These strategic investments and acquisitions demonstrate the company's commitment to growth through portfolio expansion, market consolidation, technology integration, and strategic partnerships that enhance competitive positioning and drive long-term value creation.
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Financial services are provided for MSMEs, investors, and businesses.
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2015 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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OVO is recognized as a smart digital payment application.
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2017 | ||||
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Bionic investment advisor platform
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 |
Financial Statements - OPay
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Opay Comparisons
Competitors of OPay
OPay operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Paytm, MoneyGram, Xend Finance, CarePay and Remita, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Digital payments, financial services, and e-commerce platforms are provided.
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| domain | founded_year | HQ Location |
Cross-border payments are enabled via wallet solutions for consumers.
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| domain | founded_year | HQ Location |
DeFi savings are enabled for credit unions and cooperatives.
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| domain | founded_year | HQ Location |
Provider of a health insurance platform for global insurers
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| domain | founded_year | HQ Location |
An app-based digital wallet providing payment solutions for individuals and businesses.
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| Company Name | Domain | Founded year | HQ Location | Description |
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| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Opay
Frequently Asked Questions about OPay
When was OPay founded?
OPay was founded in 2018 and raised its 1st funding round 1 year after it was founded.
Where is OPay located?
OPay is headquartered in Lagos, Nigeria. It is registered at Lagos, Lagos State, Nigeria.
Is OPay a funded company?
OPay is a funded company, having raised a total of $570M across 3 funding rounds to date. The company's 1st funding round was a Series A of $50M, raised on Jul 10, 2019.
What does OPay do?
OPay was founded in 2018 in Lagos, Nigeria, as a fintech platform focused on digital payments. Services include QR-based transactions, payment links, app-based payments, and bank transfers, along with bill payments for electricity, water, education, tolls, and taxes. The platform operates through mobile apps available on Android and iOS, serving users in the payments sector across Nigeria.
What products or services does OPay offer?
OPay offers OPay App, OPay Debit Card, Owealth, and Airtime Top-up.
How many acquisitions has OPay made?
OPay has made 1 acquisition, including Finja.
Who are OPay's investors?
OPay has 16 investors. Key investors include Meituan, Opera, SoftBank Vision Fund, Sequoia Capital, and Redpoint Ventures.
What is OPay's valuation?
The valuation of OPay is $2B as of Aug 2021.
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