OPay
Opay
OPay is an African fintech company incubated by Opera, the Norway-headquartered internet company, and was launched in August 2018 . It started as a mobile payment service in Nigeria targeting the country's large unbanked population, using agent networks and zero-fee transfers to build scale . By late 2019 it had already become Nigeria's leading mobile payment provider, with over 140,000 active agent merchants and daily transaction volume exceeding $10 million , and its ride-hailing service had also overtaken Uber and Taxify in local market share .
The company subsequently evolved into a super-app model, expanding into food delivery, mobility, and micro-lending across multiple African markets . As 暗涌Waves described it in 2025, OPay essentially "skipped the savings-card era" in Africa to become a local wallet, following the Chinese super-app playbook .
OPay raised $120 million in a Series B round in November 2019, co-led by Meituan, Gaorong Ventures, and Source Code Capital, with participation from SoftBank Asia, BAI, Redpoint China, IDG Capital, Sequoia China, and GSR Ventures . Zhou Yahui served as CEO at that time . Both Gaorong Ventures and Source Code Capital have continued to list OPay among their portfolio companies in subsequent years .
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Coverage
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Gaorong Monthly · November | Gaorong Ventures Wins "2019 China VC Firm of the Year" and Other Awards, 24 Portfolio Companies Named to 36Kr's "King of New Economy" List
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African Mobile Payments and Mobility Service Provider OPay Closes $120 Million Series B Round | Gaorong Ventures News
OPay is one of Africa's fastest-scaling companies, having grown into Nigeria's leading mobile payments and ride-hailing service provider.
How Should Companies Going Global Make Strategic Choices and Decisions | Codeup 2019
"Knowledge Capital, Deep Action" — Source Code Capital's 2019 Ma Hui annual conference invited the core founding teams from PowerUp, Blue, OPay, and PanPay to discuss their experiences with strategic choices and decision-making for companies going global.
