Opera Raises US$50 Million in Investment for Mobile App OPay

Opera Limited (NASDAQ:OPRA), digital content and browser company has received US$50 million in financing  for its mobile payment app OPay. The mobile payment app has significant reach in Africa, where millions of users in Nigeria use the app. Major investors included Sequoia China, IDG Capital and Source Code Capital.

As quoted in the press release:

Recently, OPay has expanded its ecosystem to new verticals, including the motorbike ridesharing service ORide and food delivery service OFood. OPay is already experiencing demand far in excess of its capacity and is rapidly adding to its motorbike fleet, ensuring a highly visible physical presence in its core market, Nigeria.

Chairman and CEO of Opera Limited, Yahui Zhou, commented, “By incubating OPay and supporting the company through its rapid acceleration, Opera has also demonstrated its ability to leverage its brand and consumer reach to create attractive, fast-growing businesses on the African continent. We are highly pleased by the team’s results and are excited to continue supporting OPay as the journey continues.”

Click here to read the full press release.