OPay valuation, funding and investors

OPay works in digital payment solutions services, based in Ikeja, Nigeria. Founded in 2018, it has about 3,710 employees.

Payment Processing & Point of Sale Ikeja Growth Equity

VALUATION · TODAY

$2.85B −2% after Growth

Range $401M – $3.28B · Grade D

TODAY

+12 MO

$1.00B

$2.00B

$3.00B

$4.00B

2019

2020

2021

2022

2023

2024

2025

2026

2027

Series B $120M

Growth $400M

ValuationBefore first round12-month outlook: where it points, how wide it fansHover the past: the outlook shows what was predicted then

HEADCOUNT · TODAY4,415 employees

+19%6m growth

+21%1y growth

+52%2y growth

2,500

5,000

Data from Jan 2021

TODAY

Predicted in 1 yr $2.79B −2% vs today

Predicted next raise $328M if a round comes

Winding-down probability 0%

Last round: Growth · $400M · Aug 2021
Valuation at last round: $2.00B
Headcount: 4,415 · up
Grade: D
Founded: 2018

How VCMC values companies →

OPay valuation today

VCMC values OPay at $2.8B today, with a range of $401M to $3.3B and a grade of D. The valuation starts from its last funding round, a growth round in Aug 2021.

Valuation by date (109 rows)

Each point is what the model would have shown on that date, using only what was known then; before its first round, a company is valued as a startup because it later raised.

OPay: valuation by date, as the model would have shown it on each date
Date	Valuation	Range	Predicted in 1 yr	Phase	Headcount	Trend	Grade	Winding-down probability
1 Jan 2018	$5.91M	$2.15M – $16.2M	$8.10M (+37%)	before first round	–	unknown	D	0%
1 Feb 2018	$6.07M	$2.21M – $16.7M	$8.32M (+37%)	before first round	–	unknown	D	0%
1 Mar 2018	$6.22M	$2.26M – $17.1M	$8.53M (+37%)	before first round	–	unknown	D	0%
1 Apr 2018	$6.39M	$2.33M – $17.5M	$8.76M (+37%)	before first round	–	unknown	D	0%
1 May 2018	$6.56M	$2.39M – $18.0M	$8.99M (+37%)	before first round	–	unknown	D	0%
1 Jun 2018	$6.73M	$2.45M – $18.5M	$9.23M (+37%)	before first round	–	unknown	D	0%
1 Jul 2018	$6.91M	$2.52M – $19.0M	$9.47M (+37%)	before first round	–	unknown	D	0%
1 Aug 2018	$7.10M	$2.58M – $19.5M	$9.57M (+35%)	before first round	–	unknown	D	0%
1 Sep 2018	$7.29M	$2.65M – $20.0M	$9.66M (+32%)	before first round	–	unknown	D	0%
1 Oct 2018	$7.48M	$2.72M – $20.6M	$9.74M (+30%)	before first round	–	unknown	D	0%
1 Nov 2018	$7.68M	$2.80M – $21.1M	$9.83M (+28%)	before first round	–	unknown	D	0%
1 Dec 2018	$7.89M	$2.87M – $21.7M	$9.92M (+26%)	before first round	–	unknown	D	0%
1 Jan 2019	$8.10M	$2.95M – $22.3M	$10.0M (+24%)	before first round	–	unknown	D	0%
1 Feb 2019	$8.32M	$3.03M – $22.9M	$10.1M (+21%)	before first round	–	unknown	D	0%
1 Mar 2019	$8.53M	$3.10M – $23.4M	$10.2M (+19%)	before first round	–	unknown	D	0%
1 Apr 2019	$8.76M	$3.19M – $24.1M	$10.3M (+17%)	before first round	–	unknown	D	0%
1 May 2019	$8.99M	$3.27M – $24.7M	$10.4M (+15%)	before first round	–	unknown	D	0%
1 Jun 2019	$9.23M	$3.36M – $25.4M	$10.5M (+13%)	before first round	–	unknown	D	0%
1 Jul 2019	$9.47M	$3.45M – $26.0M	$10.6M (+11%)	before first round	–	unknown	D	0%
1 Aug 2019	$9.57M	$3.48M – $26.3M	$10.7M (+11%)	before first round	–	unknown	D	0%
1 Sep 2019	$9.66M	$3.52M – $26.5M	$10.8M (+11%)	before first round	–	unknown	D	0%
1 Oct 2019	$9.74M	$3.55M – $26.8M	$10.9M (+11%)	before first round	–	unknown	D	0%
1 Nov 2019	$9.83M	$3.58M – $27.0M	$11.0M (+11%)	before first round	–	unknown	D	0%
19 Nov 2019	$703M	$462M – $1.6B	$1.1B (+50%)	after a round	–	unknown	C	0%
1 Dec 2019	$713M	$462M – $1.6B	$1.1B (+48%)	after a round	–	unknown	C	0%
1 Jan 2020	$738M	$462M – $1.6B	$1.1B (+43%)	after a round	–	unknown	C	0%
1 Feb 2020	$764M	$462M – $1.6B	$1.1B (+38%)	after a round	–	unknown	C	0%
1 Mar 2020	$789M	$462M – $1.6B	$1.1B (+34%)	after a round	–	unknown	C	0%
1 Apr 2020	$816M	$462M – $1.6B	$1.1B (+29%)	after a round	–	unknown	C	0%
1 May 2020	$844M	$462M – $1.6B	$1.1B (+25%)	after a round	–	unknown	C	0%
1 Jun 2020	$873M	$462M – $1.6B	$1.1B (+21%)	after a round	–	unknown	C	0%
1 Jul 2020	$903M	$462M – $1.6B	$1.1B (+17%)	after a round	–	unknown	C	0%
1 Aug 2020	$935M	$462M – $1.6B	$1.1B (+13%)	after a round	–	unknown	C	0%
1 Sep 2020	$967M	$462M – $1.6B	$1.1B (+9%)	after a round	–	unknown	C	0%
1 Oct 2020	$1.0B	$462M – $1.6B	$1.1B (+5%)	after a round	–	unknown	C	0%
1 Nov 2020	$1.0B	$462M – $1.6B	$1.1B (+2%)	after a round	–	unknown	C	0%
1 Dec 2020	$1.1B	$453M – $1.6B	$1.1B (0%)	after a round	–	unknown	C	0%
1 Jan 2021	$1.1B	$433M – $1.6B	$1.1B (0%)	after a round	1,100	unknown	C	0%
1 Feb 2021	$1.1B	$414M – $1.6B	$1.1B (0%)	after a round	1,100	unknown	C	0%
1 Mar 2021	$1.1B	$398M – $1.6B	$1.1B (0%)	after a round	1,100	unknown	C	0%
1 Apr 2021	$1.1B	$381M – $1.6B	$1.1B (0%)	after a round	1,100	flat	C	0%
1 May 2021	$1.1B	$365M – $1.6B	$1.1B (0%)	after a round	1,100	flat	C	0%
1 Jun 2021	$1.1B	$349M – $1.6B	$1.1B (0%)	after a round	1,100	flat	C	0%
1 Jul 2021	$1.1B	$335M – $1.6B	$1.1B (0%)	after a round	1,100	flat	C	0%
1 Aug 2021	$1.1B	$320M – $1.6B	$1.1B (0%)	after a round	1,100	flat	C	0%
25 Aug 2021	$2.0B	$1.7B – $2.5B	$2.2B (+10%)	after a round	1,100	flat	A	0%
1 Sep 2021	$2.0B	$1.7B – $2.5B	$2.2B (+10%)	after a round	1,100	flat	A	0%
1 Oct 2021	$2.0B	$1.7B – $2.5B	$2.2B (+9%)	after a round	1,100	flat	A	0%
1 Nov 2021	$2.0B	$1.7B – $2.5B	$2.2B (+8%)	after a round	1,100	flat	A	0%
1 Dec 2021	$2.1B	$1.7B – $2.5B	$2.2B (+7%)	after a round	1,100	flat	A	0%
1 Jan 2022	$2.1B	$1.7B – $2.5B	$2.2B (+6%)	after a round	1,100	flat	A	0%
1 Feb 2022	$2.0B	$1.7B – $2.3B	$1.4B (-27%)	after a round	340	shrinking	A	97%
1 Mar 2022	$2.0B	$1.7B – $2.3B	$1.4B (-31%)	after a round	340	shrinking	A	97%
1 Apr 2022	$2.0B	$1.7B – $2.3B	$1.3B (-35%)	after a round	340	shrinking	A	97%
1 May 2022	$2.0B	$1.7B – $2.3B	$1.2B (-39%)	after a round	340	shrinking	A	97%
1 Jun 2022	$2.0B	$1.7B – $2.3B	$1.1B (-43%)	after a round	340	shrinking	A	97%
1 Jul 2022	$2.0B	$1.7B – $2.3B	$1.1B (-46%)	after a round	340	shrinking	A	97%
1 Aug 2022	$2.0B	$1.7B – $2.3B	$1.0B (-49%)	after a round	340	shrinking	A	97%
1 Sep 2022	$2.0B	$1.7B – $2.3B	$935M (-52%)	after a round	340	shrinking	A	97%
1 Oct 2022	$1.8B	$1.6B – $2.2B	$898M (-51%)	after a round	340	shrinking	A	97%
1 Nov 2022	$1.8B	$1.5B – $2.2B	$1.0B (-42%)	after a round	340	unknown	A	89%
1 Dec 2022	$1.7B	$1.4B – $2.1B	$1.0B (-39%)	after a round	340	unknown	A	82%
1 Jan 2023	$1.6B	$1.3B – $2.1B	$1.1B (-35%)	after a round	340	unknown	A	76%
1 Feb 2023	$1.6B	$1.2B – $2.1B	$1.1B (-32%)	after a round	340	unknown	A	70%
1 Mar 2023	$1.5B	$1.1B – $2.0B	$1.1B (-29%)	after a round	340	unknown	A	64%
1 Apr 2023	$2.0B	$1.5B – $2.7B	$1.6B (-19%)	after a round	2,000	growing	A	59%
1 May 2023	$2.1B	$1.5B – $2.8B	$1.7B (-18%)	after a round	2,100	growing	B	54%
1 Jun 2023	$2.1B	$1.5B – $2.8B	$1.7B (-18%)	after a round	2,100	growing	B	50%
1 Jul 2023	$2.1B	$1.5B – $2.8B	$1.7B (-17%)	after a round	2,100	growing	B	46%
1 Aug 2023	$2.1B	$1.5B – $2.8B	$1.8B (-16%)	after a round	2,100	growing	B	42%
1 Sep 2023	$2.1B	$1.1B – $2.9B	$1.7B (-18%)	after a round	2,100	flat	B	39%
1 Oct 2023	$2.2B	$1.2B – $3.0B	$1.8B (-16%)	after a round	2,500	up	B	36%
1 Nov 2023	$2.2B	$1.2B – $3.0B	$1.9B (-16%)	after a round	2,500	up	B	33%
1 Dec 2023	$2.2B	$1.2B – $3.0B	$1.9B (-15%)	after a round	2,500	up	B	30%
1 Jan 2024	$2.2B	$1.1B – $3.0B	$1.9B (-14%)	after a round	2,500	up	B	28%
1 Feb 2024	$2.2B	$1.1B – $3.0B	$1.9B (-13%)	after a round	2,500	up	B	26%
1 Mar 2024	$2.3B	$1.5B – $3.1B	$2.0B (-12%)	after a round	2,700	growing	B	24%
1 Apr 2024	$2.3B	$1.4B – $3.1B	$2.0B (-11%)	after a round	2,700	growing	B	22%
1 May 2024	$2.3B	$1.4B – $3.1B	$2.1B (-10%)	after a round	2,700	growing	B	20%
1 Jun 2024	$2.3B	$1.4B – $3.1B	$2.1B (-9%)	after a round	2,700	growing	B	18%
1 Jul 2024	$2.3B	$1.4B – $3.1B	$2.1B (-9%)	after a round	2,700	growing	B	17%
1 Aug 2024	$2.4B	$1.4B – $3.1B	$2.2B (-8%)	after a round	2,900	growing	B	16%
1 Sep 2024	$2.4B	$1.3B – $3.0B	$2.2B (-6%)	after a round	2,900	growing	B	14%
1 Oct 2024	$2.4B	$1.3B – $3.1B	$2.3B (-5%)	after a round	2,900	growing	B	13%
1 Nov 2024	$2.7B	$1.4B – $3.2B	$2.7B (0%)	after a round	3,000	growing	B	0%
1 Dec 2024	$2.7B	$705M – $3.1B	$2.6B (-4%)	after a round	3,000	up	C	0%
1 Jan 2025	$2.7B	$676M – $3.1B	$2.6B (-4%)	after a round	3,000	up	C	0%
1 Feb 2025	$2.7B	$648M – $3.1B	$2.6B (-4%)	after a round	3,000	up	C	0%
1 Mar 2025	$2.7B	$623M – $3.1B	$2.6B (-4%)	after a round	3,000	up	C	0%
1 Apr 2025	$2.7B	$597M – $3.1B	$2.6B (-4%)	after a round	3,000	up	C	0%
1 May 2025	$2.6B	$573M – $3.0B	$2.5B (-5%)	after a round	3,000	up	C	0%
1 Jun 2025	$2.6B	$549M – $3.0B	$2.5B (-4%)	after a round	3,000	up	C	0%
1 Jul 2025	$2.6B	$527M – $3.0B	$2.5B (-4%)	after a round	3,000	up	C	0%
1 Aug 2025	$2.8B	$523M – $3.2B	$2.8B (-1%)	after a round	3,512	up	C	0%
1 Sep 2025	$2.8B	$558M – $3.2B	$2.8B (-1%)	after a round	3,512	up	C	0%
1 Oct 2025	$2.8B	$542M – $3.2B	$2.7B (-2%)	after a round	3,655	up	C	0%
1 Nov 2025	$2.8B	$523M – $3.2B	$2.8B (-2%)	after a round	3,714	up	C	0%
1 Dec 2025	$2.8B	$503M – $3.2B	$2.8B (-2%)	after a round	3,714	up	C	0%
1 Jan 2026	$2.8B	$483M – $3.2B	$2.8B (-2%)	after a round	3,714	up	C	0%
1 Feb 2026	$2.8B	$465M – $3.2B	$2.8B (-2%)	after a round	3,714	up	C	0%
1 Mar 2026	$2.8B	$448M – $3.2B	$2.7B (-3%)	after a round	3,714	up	C	0%
1 Apr 2026	$2.7B	$431M – $3.2B	$2.7B (-3%)	after a round	3,714	up	C	0%
1 May 2026	$3.0B	$1.2B – $3.4B	$3.0B (0%)	after a round	4,415	growing	B	0%
1 Jun 2026	$2.9B	$414M – $3.3B	$2.8B (-2%)	after a round	4,415	up	D	0%
1 Jul 2026	$2.9B	$401M – $3.3B	$2.8B (-2%)	after a round	4,415	up	D	0%
1 Aug 2026	$2.9B	$401M – $3.3B	$2.8B (-2%)	after a round	4,415	up	D	0%
1 Sep 2026	$2.9B	$401M – $3.3B	$2.8B (-2%)	after a round	4,415	up	D	0%
1 Oct 2026	$2.9B	$401M – $3.3B	$2.8B (-2%)	after a round	4,415	up	D	0%
24 Oct 2026	$2.8B	$401M – $3.3B	$2.8B (-2%)	after a round	4,415	up	D	0%

Key facts about OPay

Founded: 2018
Headquarters: Ikeja, Nigeria
Employees: about 3,710 +24% in a year
Total raised: $520M
Funding rounds: 2
Last round: Growth Equity Aug 2021

OPay was founded in 2018 by Zhou Yahui.

OPay funding history

OPay has 2 funding rounds on record, from Nov 2019 to Aug 2021, $520M in total. The latest disclosed valuation is $2.00B post-money (Growth Equity, Aug 2021).

Growth Equity 24 Aug 2021
Led by SoftBank Vision Fund; with HSG, Source Code Capital, Long-Z, Redpoint China, 3W Capital, SoftBank Ventures Asia, DragonBall Capital.
Sources: hollandfintech.com, techafricanews.com
$400M
$2.00B post-money
Series B 18 Nov 2019
With Meituan-Dianping, DragonBall Capital, Gaorong Ventures, Source Code Capital, SoftBank Ventures Asia, Bertelsmann Asia Investments (BAI), Redpoint China, IDG Capital, HSG, GSR Ventures, BAI Capital, Redpoint Ventures.
Sources: finsmes.com, kenyanwallstreet.com, tech.africa and 3 more
$120M

OPay investors

15 investors have backed OPay; SoftBank Vision Fund led at least one round.

SoftBank Vision Fund lead
DragonBall Capital 2 rounds
HSG 2 rounds
Redpoint China 2 rounds
3W Capital
Bertelsmann Asia Investments (BAI)
GSR Ventures
IDG Capital
Long-Z
Meituan-Dianping
Redpoint Ventures

What OPay does

OPay works in payment processing & point of sale, with 9 recorded offerings and customers in financial services.

OPay Digital Services Limited is a Nigerian financial services company that operates as a fintech mobile money service provider. The company offers payment solutions, debit cards, and a digital platform for managing finances and payments, serving both individual and business clients. Its services include fund transfers, bill payments, airtime and data top-ups, and a loyalty program. OPay is certified for security and privacy, including compliance with PCI DSS standards and the use of fraud detection and encryption technologies.

Description from Veridion's company data.

Products and services

Digital Payment Solutions Services
Fund Transfer Services
Bill Payment Services
Airtime and Data Top-Up Services
Debit Card Issuance Services
Financial Management Platform Services
Cashback Rewards Services
Business Financial Solutions Services
Inclusive Financial Services

Markets

Financial Services

Technology

Encryption Technologies
Advanced Fraud Detection Algorithms

Certifications

PCI DSS compliant

Business model

Business-to-Business
Business-to-Consumer
Service Provider

Industry codes (NAICS)

522320 Financial Transactions Processing, Reserve, and Clearinghouse Activities 70% match
522210 Credit Card Issuing 30% match

Questions about OPay

What is OPay worth?

Valuation $2.8B (range $401M to $3.3B), as of 24 Oct 2026. The last disclosed valuation was $2.00B (Growth Equity, Aug 2021).

Has OPay raised money?

OPay has 2 funding rounds on record, from Nov 2019 to Aug 2021, $520M in total. The latest disclosed valuation is $2.00B post-money (Growth Equity, Aug 2021).

Who has invested in OPay?

SoftBank Vision Fund, DragonBall Capital, HSG, Redpoint China, SoftBank Ventures Asia and Source Code Capital, and 9 more. Lead investors include SoftBank Vision Fund.

How many people work at OPay?

About 3,710, up 24% over the last year. Headcount grew from 1,100 in Jan 2021 to 4,415 in May 2026.

What does OPay do?

OPay works in payment processing & point of sale, with 9 recorded offerings and customers in financial services. Its main offerings are digital payment solutions services, fund transfer services and bill payment services.

When was OPay founded, and where is it based?

OPay was founded in 2018 and is based in Ikeja, Nigeria. It has about 3,710 employees, up 24% over the last year.

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