OPay, a leading Africa-focused fintech firm with Chinese backers is reportedly in talks to raise as much as $400 million in funding. The planned fundraising round comes two years after the fintech firm announced two funding rounds in 2019, a $120 million Series B in November, and a prior one in June worth $50 million. Few of them include Source Code Capital, GSR Ventures, SoftBank Ventures Asia, IDG Capital, Sequoia Capital China, and SoftBank. The fintech firm plays in a very competitive fintech market. The upcoming raise, probably a Series C, would be instrumental in the firm’s plans for expansion of geographical and product offerings.

Source: The North Africa Journal May 28, 2021 05:15 UTC