By Pascal Oparada
Social Media/Tech Reporter
Opera-backed OPay has raised $50 million in Nigeria to finance its mobile payment in the country.
OPay is owned by the Norwegian browser, Opera, which has risen to the number two spot after Google Chrome.
OPay will use the capital to grow its digital finance business in Nigeria. The investment was not given any designation.
OPay will also support Opera’s growing commercial network in Nigeria, which includes motorcycle ride-hail app ORide and OFood delivery service.
Opera founded OPay in 2018 on the popularity of its internet search engine.
OPay has scaled over 40,000 money agents in Nigeria, averaging daily transaction volume of $5 million.
The country’s leading digital payment company, Paga, raised $10 million in 2018 to further expand its customer base that now tallies 13 million.
OPay’s $50 million-backed commitment to grow mobile money in Nigeria should provide another big boost to digital-finance adoption across the country’s 190 million people.
Nigeria’s biggest mobile phone operator, MTN, recently obtained the Central Bank of Nigeria’s license to operate mobile money business in the country.
