Opay raises $400m, becomes Africa’s 5th unicorn

August 23, 2021
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Chinese-backed and Africa-focused fintech platform, OPay, on Monday, announced raising fresh $400m, in a funding round led by Japanese Softbank.

The development brings the startup’s valuation to a trillion dollar company, becoming the 5th African unicorn after Interswitch, Jumia, Fawry and Flutterwave.

Earlier in May, there was news on the startup’s move to raise the round, but little was known that the raiser would be finalised three months after.

Led by Softbank, the deal becomes a major talking point for tech players in Nigeria being the Japanese company’s first foray into Africa

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