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SoftBank Makes First Africa Bet on OPay at $2 Billion Valuation
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.
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. Founded in 2018, the company’s monthly transaction volumes exceed $3 billion.
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