OPay Raises The Largest Funding Round In Africa Led By Softbank

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Nigerian Paymentech OPay raised $400 million in Series C funding round led by SoftBank Vision Fund 2, marking the first investment in a startup on the continent by the fund. The round valued the Nigerian mobile payments platform at ~$2 billion and brings the total funding raised till date to $570 million.

The funding round also witnessed participation from existing investors Sequoia Capital China, Redpoint Ventures China, Longzhu Capital, Source Code Capital and Softbank Ventures Asia, along with new investors DragonBall Capital and 3W Capital.

Founded in 2018 by Yahui Zhou, Ikeja based OPay provides a mobile payment service and consumer platform for users to send and receive money, pay bills, and order food and groceries.

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