OPay, a Nigerian fintech startup, has a market value of $2.7 billion, making it one of the largest digital banks in Nigeria
Here are some key points about OPay:
– *Rise to Prominence*: OPay has quickly emerged as the most downloaded fintech app in Nigeria, thanks to its ‘super app’ that combines multiple services ².
– *Services*: OPay offers a wide range of services, including money transfers, bill payments, airtime purchases, and more ².
– *Agent Network*: OPay has an extensive agent network, with over 500,000 agents spread across Nigeria, making it a leading player in the fintech space ².
– *Customer Base*: OPay has amassed over 35 million customers, making it a trusted platform for financial transactions ².
– *Success Factors*: OPay’s success can be attributed to its ability to address the challenge of poor digital identity, its agile IT network, and its extensive agent network ².
– *Funding*: OPay has received significant funding, including a $400 million investment led by SoftBank Vision Fund 2, which has enabled it to aggressively promote its offerings ³.
