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When Was OPay Founded |
When was OPay founded? Learn the exact founding year of OPay, who created it, why it launched in 2018, and how it became a fintech giant.
If you’ve ever used OPay for transfers, bill payments, or POS transactions, you’ve probably asked a simple but important question: when was OPay founded? Understanding OPay’s origin helps explain how it grew so fast, why it dominates Nigeria’s fintech space, and where the company is heading next.
This guide gives you a clear, accurate, and current answer, backed by context, timelines, and expert insight—written for readers who want facts, not fluff.
Search Intent Clarified: What Users Really Want to Know
The keyword when was OPay founded is purely informational. Users want:
- The exact founding year
- Who founded OPay
- Where it started
- How it evolved into a major fintech platform in Nigeria and beyond
That’s exactly what this article delivers.
When Was OPay Founded?
OPay was founded in 2018.
The company officially launched in 2018 as a mobile payments and financial services platform, with an early focus on emerging markets—especially Nigeria. Since then, OPay has grown into one of Africa’s most widely used fintech apps.
This founding date—2018—remains the correct and widely verified answer when people search when was OPay founded.
The Company Behind OPay: Who Founded It?
OPay was launched by Opera Group, the global internet company best known for the Opera web browser.
Opera Group identified a major gap in digital payments and financial inclusion across Africa and decided to build a fintech ecosystem tailored to mobile-first users. OPay was created as part of this expansion strategy, leveraging Opera’s experience in technology, distribution, and emerging markets.
Key facts:
- OPay is backed by Opera Group
- Opera is headquartered in Europe but operates globally
- OPay was designed primarily for African markets, starting with Nigeria
This backing gave OPay immediate credibility, technical strength, and funding support.
Why 2018 Was the Right Time to Launch OPay
Understanding when was OPay founded also means understanding why 2018 mattered.
In 2018:
- Smartphone usage in Nigeria was rising rapidly
- Cash transactions still dominated daily life
- Millions of people were underbanked or unbanked
- Traditional banks were slow, expensive, and paperwork-heavy
OPay entered the market with a simple promise: fast, mobile-based financial services without the stress of traditional banking.
That timing allowed OPay to scale quickly.
OPay’s Early Focus: More Than Just Payments
When OPay launched in 2018, it wasn’t only about transfers.
Initial Services Included:
- Mobile wallet and peer-to-peer transfers
- Bill payments (airtime, data, electricity)
- Merchant payments
- Ride-hailing and logistics services (later discontinued)
Over time, OPay streamlined its focus strictly on financial services, which proved to be the winning strategy.
OPay’s Expansion in Nigeria After Its Founding
After being founded in 2018, OPay aggressively expanded across Nigeria.
Key Growth Milestones:
- Rapid onboarding of agents nationwide
- Launch of POS terminals for merchants
- Introduction of cashback and zero-fee transfers
- Strong presence in both urban and semi-urban areas
Within just a few years of its founding, OPay became one of Nigeria’s most recognizable fintech brands.
Regulatory Approval and Licensing
A major reason OPay survived where others failed is regulation.
OPay operates under licenses issued by the Central Bank of Nigeria (CBN), which regulates mobile money operators and payment service providers. Regulatory compliance strengthened trust among users and merchants.
This institutional approval played a huge role in OPay’s post-2018 success.
OPay’s Business Model Explained Simply
Since its founding in 2018, OPay has followed a clear model:
- Free or low-cost services to attract users
- Revenue from merchant services and transaction volumes
- Massive agent network to reach offline users
- Technology-driven scale, not physical branches
This approach helped OPay grow faster than many traditional banks.
How OPay Compares to Other Fintechs Founded Around the Same Time
To fully understand when was OPay founded, it helps to compare it with competitors:
- OPay – founded in 2018
- PalmPay – launched shortly after, also around 2019
- Kuda – founded earlier but scaled later
- Moniepoint – older infrastructure, later consumer expansion
OPay’s advantage was speed. It moved faster than most fintechs that launched around the same period.
OPay Beyond Nigeria: International Presence
Although OPay was founded in 2018 with Nigeria as a priority market, it didn’t stop there.
OPay has expanded into:
- Other African countries
- Parts of Asia
However, Nigeria remains its largest and most important market in terms of users and transaction volume.
Common Myths About OPay’s Founding
Let’s clear up confusion users often have when searching when was OPay founded:
Myth 1: OPay is older than Nigerian banks
False. OPay is a relatively young company, founded in 2018.
Myth 2: OPay was founded by the Nigerian government
False. It was founded by Opera Group, a private tech company.
Myth 3: OPay started as a bank
False. It started as a mobile payment platform, not a traditional bank.
Why OPay’s Founding Year Still Matters Today
Knowing when was OPay founded helps users:
- Judge how fast the company has grown
- Understand its startup DNA
- Assess long-term stability and innovation potential
From 2018 to now, OPay has processed billions of transactions, onboarded millions of users, and reshaped digital payments in Nigeria.
That’s impressive growth for a company less than a decade old.
If you use OPay daily, take a moment to explore its full features—many users still don’t take advantage of savings, merchant tools, and security settings.
What the Future Looks Like for OPay
Since its founding in 2018, OPay has shown one thing clearly: it adapts fast.
Future focus areas likely include:
- More financial products
- Stronger security systems
- Deeper merchant services
- Expansion into new markets
The foundation laid in 2018 continues to shape OPay’s strategy today.
Final Answer Recap: When Was OPay Founded?
Let’s close the loop clearly:
- OPay was founded in 2018
- It was launched by Opera Group
- Nigeria became its primary market
- It grew rapidly due to timing, technology, and user-first design
If your question was when was OPay founded, the verified and accurate answer remains 2018.
Want to understand fintech platforms better? Explore more in-depth guides on digital wallets, mobile banking, and payment apps to make smarter financial decisions.
