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| OPay’s 2021 funding round raised about $400 million and valued the African fintech at roughly $2 billion. |
OPay raised approximately $400 million in a funding round in 2021, led by SoftBank Vision Fund 2, with participation from other investors including Sequoia Capital China. The round valued OPay at roughly $2 billion, making it one of Africa's fintech "unicorns" at the time.
The 2021 Funding Round: Key Details
| Detail | Information |
|---|---|
| Amount Raised | ~$400 million |
| Lead Investor | SoftBank Vision Fund 2 |
| Other Participants | Sequoia Capital China, and other venture investors |
| Resulting Valuation | ~$2 billion |
| Timing | August–September 2021 |
This round came roughly three years after OPay launched in Nigeria in 2018, reflecting rapid growth in its agency banking, POS, and mobile payment services during that period.
Why This Funding Round Mattered
The $400 million round was significant for a few reasons:
- - It made OPay one of Africa's few fintech "unicorns" (private companies valued at $1 billion or more) at the time.
- - It signaled strong international investor confidence in Nigeria's digital payments sector, at a point when cash-based POS agency banking was expanding rapidly across the country.
- - It funded OPay's broader expansion beyond Nigeria, including its move into the Egyptian market later in 2021.
Who Were the Investors?
- - SoftBank Vision Fund 2 — the lead investor in the round, part of SoftBank's global technology investment arm.
- - Sequoia Capital China — a major venture capital firm with a track record of backing high-growth tech and fintech companies.
- - Other earlier-stage investors in OPay's history include IDG Capital and Source Code Capital, though the 2021 round was primarily associated with SoftBank's involvement.
- OPay Current Valuation: How Big Is the Fintech Worth in 2026?
- OPay Company Ownership: Who Really Owns OPay and Its Parent Structure
How OPay's Valuation Has Changed Since 2021
Following the 2021 round, subsequent investor filings (including disclosures by Opera Limited, OPay's NASDAQ-listed parent company) have suggested OPay's valuation climbed further in the years after — for the latest estimates, see our full breakdown in OPay's Current Valuation guide.
Frequently Asked Questions
How much funding did OPay receive in 2021?
Approximately $400 million, in a round led by SoftBank Vision Fund 2.
What was OPay's valuation after the 2021 round?
Around $2 billion.
Who led OPay's 2021 funding round?
SoftBank Vision Fund 2, with participation from Sequoia Capital China and others.
Is OPay still owned by these investors today?
Ownership involves multiple stakeholders, including founder Zhou Yahui and Opera Limited. See our full OPay ownership breakdown for details.
Conclusion
OPay's 2021 funding round — roughly $400 million led by SoftBank Vision Fund 2 — remains one of the defining moments in Nigerian fintech history, pushing the company to unicorn status. For how that valuation has evolved since, check our updated OPay valuation coverage.
