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Bloomberg
SoftBank Vision Fund 2 led a $400 million funding round for OPay, valuing the Nigerian mobile-payments platform at $2 billion and marking the investment vehicle’s first bet in Africa.
Also participating in the round were Sequoia Capital China, DragonBall Capital, the venture arm of Chinese food-delivery giant Meituan, Redpoint China, Source Code Capital, SoftBank Ventures Asia and 3W Capital, according to OPay.
“We want to be the power that helps emerging markets reach a faster economic development,†OPay CEO Yahui Zhou said. The company’s technology is designed to replace cash and other legacy payment methods, helping local governments “improve financial and information security,†according to OPay.