# OPay Digital Services

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/opay-digital-services

- Industry: Financial Services
- Headquarters: Lagos, Nigeria
- Website: www.opayweb.com
- Total disclosed funding: $570M
- Latest round: Series C (Aug 23, 2021)
- Investors on record: 16

## About

Based in Lagos, Nigeria, and founded in 2018 by CEO Yahui Zhou, OPay Digital Services Limited operates as a developer of a mobile payment platform intended to send and receive money from any bank in Nigeria. In August 2021, OPay Digital Services Limited raised USD 400 million in venture funding, led by SB Investment Advisers, with participation from other investors including Softbank Ventures Asia, DragonBall Capital, and 3W Capital.

OPay is a one-stop mobile-based platform for payment, transportation, food and grocery delivery, and other important services in everyday life. It also allows unbanked and underbanked users in Nigeria to send and receive money and pay bills through a network of thousands of agents.

The company generates revenue by charging its users a 3% service fee for every transaction. OPay's monthly transaction volumes exceeded USD 3 billion, driven by its strong network of 300,000 agents and 5 million registered app users.

OPay plans to extend its offering to adjacent markets and replicate its successful business model in Egypt and other countries in the region.

## Funding rounds

- Series C, Aug 23, 2021, $400M — Hong Shan, SBVA, Source Code Capital, 3W Partners, SB Investment Advisers, Long Z Investment, Redpoint China Ventures, Hanwha Investment & Securities
- Series B, Nov 17, 2019, $120M — Hong Shan, SAIF Partners, GSR Ventures, IDG Capital, BAI Capital, Gaorong Ventures, Source Code Capital, Meituan, Inc., Redpoint China Ventures
- Series A, Jul 9, 2019, $50M — Hong Shan, GSR Ventures, IDG Capital, Opera Limited, Kunlun Group Limited, Source Code Capital, Meituan, Inc.

## Investors

- Hong Shan — Series A, Series B, Series C
- GSR Ventures (https://capitalatlas.ai/funds/gsr-ventures) — Series A, Series B
- IDG Capital (https://capitalatlas.ai/funds/idg-capital) — Series A, Series B
- Opera Limited — Series A
- Kunlun Group Limited — Series A
- Source Code Capital (https://capitalatlas.ai/funds/source-code-capital) — Series A, Series B, Series C
- Meituan, Inc. — Series A, Series B
- SAIF Partners (https://capitalatlas.ai/funds/saif-partners) — Series B
- BAI Capital (https://capitalatlas.ai/funds/bai-capital) — Series B
- Gaorong Ventures (https://capitalatlas.ai/funds/gaorong-ventures) — Series B
- Redpoint China Ventures (https://capitalatlas.ai/funds/redpoint-china-ventures) — Series B, Series C
- SBVA (https://capitalatlas.ai/funds/sbva) — Series C
- 3W Partners (https://capitalatlas.ai/funds/3w-partners) — Series C
- SB Investment Advisers (https://capitalatlas.ai/funds/sb-investment-advisers) — Series C
- Long Z Investment (https://capitalatlas.ai/funds/long-z-investment) — Series C
- Hanwha Investment & Securities (https://capitalatlas.ai/funds/hanwha-investment-securities) — Series C