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Opay Current Valuation, Last Funding Value, And Growth Report

 

By Reel Coverage Feb 25, 2024

 

Opay is a major Fintech company enhancing inclusion, accessibility and flexibility in the banking sector of Nigeria.

 

 

 

Opay was founded in 2018 by Opera Norway AS Group and has since operated in Mexico, Nigeria, Egypt and Pakistan.

 

Whilst Opay's tech history can be traced back to Telnet, a Nigerian technology company known for its development of various technological infrastructures in Nigeria, the acquisition of Paycom Nigeria Limited(Formerly owned by Telnet) set the stage for Opay to become a Fintech giant in Nigeria and a unicorn company after it's $400 funding led by SoftBank Vision Fund 2. 

 

Opay's Current Valuation 2024

 

Opay's last known valuation is $2 billion with a speculated increase to $2.67 billion as of 2024.

 

Opay's valuation spike leading its unicorn company status in Nigeria and Africa can be attributed to its last funding round led by SoftBank Vision Fund 2. 

 

The founding yielded $400M in funding, taking the Fintech’s up to $2 billion. 

 

How Much Funding Did Opay Receive In 2021?

 

Opay was funded a total of $400 million on August 23, 2021, from a Series C round. The cumulative sum of its funding comes to $570 million. 

 

How Much Of Opay Does Opera Own? 

 

Opera owns 9.5% of Opay, making Its Chinese billionaire CEO, Yahui Zhou, a leader in the revolution of Opay's Fintech solution in Nigeria. 

 

How Much Has Opay Grown? 

 

Since its launch in 2018, Opay has experienced impressive growth that can be noted by its over 35 million users, 300,000+ Merchants and 500,000+ agents. 

 

The unicorn Fintech processes up to $2 billion in transactions annually as reported in December 2021 and has an estimated revenue of $38 million.