Chinese-backed African fintech startup OPay nears $3 billion valuation [Yahoo! Finance]
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Source: Yahoo! Finance
to Opera, the Chinese-owned Norwegian technology company that was one of its early investors. In a securities filing to the US SEC, Opera said the revised valuation follows an increase in its holding from 6.4% to 9.3% last year and in the fintech's performance metrics, notably a four-fold increase in customer base in 2023. Opera said it expects OPay's revenue to grow at an annualized rate of 35% between 2023 and 2030. Know More OPay's products in Nigeria, its largest market, are a bank account for faster online money transfers than traditional banks provide, and a point-of-sale device that enables vendors to accept card payments and offer cash withdrawals to customers. Nigeria's botched currency redesign last year accelerated OPay's growth as a major player in the country's financial services ecosystem. The fintech giant was OPay was founded by Chinese billionaire Zhou Yahui and valued at $2 billion in 2021 when it raised $400 million in a round led by SoftBank, with the parti
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