OPay, the startup behind one of Nigeria's leading mobile payments services, has raised $400 million in a funding round led by SoftBank Vision Fund 2, according to Bloomberg.
Sequoia Capital China, Redpoint China, Source Code Capital, Softbank Ventures Asia, DragonBall Capital and 3W Capital joined the round, which values OPay at $2 billion.
Incubated by Norwegian-based consumer internet outfit Opera, OPay launched its agent-centric mobile payments service in August 2018, entering a market with a large unbanked population.
The firm has a network of more than 300,000 agents and monthly transaction volumes of more than $3 billion.
OPay recently moved into Egypt and is set to expand further into the Middle East.