💰 OPay — Key Facts
| Full Name | OPay (Opera Financial Technologies) |
| Parent / Key Backer | Opera Limited (NASDAQ: OPRA) + Chinese investors |
| CEO | Yahui Zhou (also Opera co-CEO) |
| Major Investors | SoftBank Vision Fund 2, Sequoia Capital China, DragonBall Capital |
| Headquarters | Lagos, Nigeria |
| Valuation (2021) | $2 billion (unicorn status) |
| Key Markets | Nigeria, Egypt, Pakistan |
| Core Services | Mobile payments, digital banking, wallet transfers |
OPay — officially Opera Financial Technologies — is one of Africa’s fastest-growing fintech companies, operating a mobile payments platform that has become a dominant player in Nigeria’s financial ecosystem. Behind OPay is a network of Chinese technology investors and venture capital funds, with Opera Limited, SoftBank Vision Fund 2, and Sequoia Capital China among the key backers.
Who Is the Owner of OPay?
OPay is owned and operated by Opera Financial Technologies, a subsidiary of Opera Limited — the Norwegian-origin browser company that is now largely Chinese-owned and listed on NASDAQ (ticker: OPRA). The CEO and key driving force is Yahui Zhou, who is also co-CEO of Opera. Opera Limited itself is majority-owned by a consortium of Chinese investors including Kunlun Tech, Qifei International, Beijing Kunlun Tech, and others who took Opera private in 2016 before relisting it on NASDAQ in 2018.
SoftBank and Venture Capital Backing
OPay raised significant venture capital to fuel its African expansion. Notable rounds include a $120 million Series B in 2019 backed by Chinese investors, followed by a massive $400 million Series C in 2021 led by SoftBank Vision Fund 2, which valued the company at $2 billion — making it one of Africa’s most valuable fintech unicorns. Other investors include Sequoia Capital China, DragonBall Capital, and Source Code Capital.
Business Model and Nigeria’s Fintech Boom
OPay’s success is built on Nigeria’s massive unbanked population and the rapid adoption of mobile money. The platform handles peer-to-peer transfers, bill payments, savings, and agent banking through a network of hundreds of thousands of physical agents across Nigeria. The company has expanded beyond Nigeria into Egypt and Pakistan. Its model mirrors the success of M-Pesa in East Africa, applied to West Africa’s largest economy.
