Nigeria-based mobile payment and services platform developer OPay has secured $120m in a series B round that included local services platform Meituan Dianping, TechCrunch reported today.
SoftBank Ventures Asia and Bertelsmann Asia Investments, vehicles for telecommunications firm SoftBank and media group Bertelsmann, also invested, as did Gaorong Capital, Source Code Capital, Redpoint Ventures, IDG Capital, Sequoia China and GSR Ventures.
OPay’s mobile platform enables users to pay bills, send and receive money in addition to accessing on-demand services such as transport, food or grocery delivery. It was spun off from browser and content delivery software provider Opera in 2018.
Opera, whose web browser is among the most popular in Africa, has added offerings including motorcycle-based ride hailing app ORide, food delivery service OFood and small business advertising platform OLeads to an ecosystem centred on OPay.
The series B proceeds will fund expansion in OPay’s home country as well as its entry into South Africa, Kenya and Ghana, Opera chief financial officer Frode Jacobsen told TechCrunch, adding that it is focusing on high-volume activities.
Opera and Meituan Dianping had previously co-led OPay’s $50m series A round in July this year, which included Sequoia China, Source Code Capital, IDG Capital and GSR Ventures.
