Fintech firm OPay has raised a total of $120 million in its latest Series B funding. This comes a few months after it raised $50 million in June this year.
The investors for the series B round included Sequoia China, Meituan-Dianping, GaoRong Capital, Source Code Capital, Softbank Asia, BAI, Redpoint, IDG Capital and GSR Ventures.
According to Opera’s CFO, Frode Jacobsen, the funding will hence be used to scale in Nigeria and expand its payments product to other markets like Kenya, Ghana and South Africa.
OPay is a payment platform developed by Opera Software. The platform enables users to shop and pay for services and products through their mobile or web browser. It is currently available as an Android application.
In addition, it supports card payments with Mastercard and Visa, as well as transfers from banking apps.
The company also operates a bike hailing service (ORide), a food delivery service (OFood) and wealth management solution (OWealth). In Nigeria, it operates Opera’s lending service, OKash.