Founded by Opera Software, the originator of the Opera web browser, the OPay mobile payment start-up is taking a new lease of life with a lucrative $ 50 million fundraiser. What to continue to develop its activities in Africa, and especially in Nigeria.
The search engine in search of users and popularity with Internet users around the world, Opera, developed by the Norwegian company Opera Software, is nonetheless a browser increasingly used in Africa. Second in the ranking between June 2018 and 2019, although Chrome still largely dominates the debate, the company's software slowly but surely consolidates its place.
Focus on Nigeria
Determined to strengthen its position on the above-mentioned continent, the Nordic group has expanded its areas of activity by founding in 2018 a mobile payment start-up - OPay - whose activities are particularly concentrated in Africa. A young startup, whose last fundraiser was a success: $ 50 million raised, including from Sequoia China, IDG Capitaland Source Code Capital, as TechCrunch tells us.
The financial windfall gained through this tour de table will serve in particular to develop the activities of the company in Nigeria, the most populous country in Africa. In the last ten months, for example, OPay has recorded a transaction volume of five million dollars. Promising figures that push the founders of the company to intensify their efforts in this specific territory.
Competition increasingly fierce
As TechCrunch points out, this new nest egg will also allow OPay to increasingly compete with Paga, Nigeria's leading digital payment company, which has also managed to raise several million dollars - ten in total - in an in 2018. More generally, the subsidiary of Opera will seek in the future to penetrate other markets with juicy potential.
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