OPay Raises USD120 Million Series B Round from Meituan-Dianping and Private Capital Investors

Source(s): TechCrunch | Author(s): Jake Bright

Nigeria-based mobile payments company OPay has raised a USD120 million Series B funding round from China-based e-commerce company Meituan-Dianping and private equity and venture capital firms IDG Capital, Sequoia Capital, Source Code Capital, GSR Ventures, Gaorong Capital, Redpoint Ventures, Softbank Ventures Asia, and Bertelsmann Asia Investments. OPay intends to use the new capital to scale its business in Nigeria and expand to Kenya, Ghana, and South Africa. The company previously raised USD50 million a Series A funding round in June 2019.