Funding round
OPay Growth
Reported as "Growth Equity"
OPay, which works in digital payment solutions services in Ikeja, raised $400M in a Growth round announced on 24 Aug 2021, led by SoftBank Vision Fund, at a $2.00B post-money valuation. 8 firms took part. It is OPay's second venture round on record; the one before was a Series B in Nov 2019.
$400M
Amount raised
$2.00B
Post-money valuation
$1.60B pre-money
8
Investors
1 lead
20%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced OPay at $2.00B after the new money. The $400M bought investors about 20% of the company. It came 21 months after OPay's Series B. It is 77% of the $520M OPay has raised in the venture rounds on record. No later venture round is on record for OPay.
OPay's funding rounds
OPay has 2 venture rounds on record. This one is highlighted.
- Series B 18 Nov 2019 $120M
- Growth this round 24 Aug 2021, led by SoftBank Vision Fund $400M$2.00B post-money
Investors
Who put money in
SoftBank Vision Fund led the round with 7 other firms.
Lead investor
- SoftBank Vision Fund backs 234 venture-backed companies new investor
Also in the round
- HSG backs 118 venture-backed companies new investor
- backs 35 venture-backed companies new investor
- Long-Z new investor
- Redpoint China new investor
- 3W Capital new investor
- backs 53 venture-backed companies new investor
- DragonBall Capital new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to geographic expansion, scaling operations and working capital.
- Geographic expansion
- Scaling operations
- Working capital
Comparable rounds
How it compares
42 Growth rounds in Payment Processing & Point of Sale within a year either side disclosed an amount; the median was $98M, and this round was 4.1 times the median. The closest in time, other companies' Growth rounds in Payment Processing & Point of Sale:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Payment Processing & Point of Sale | 17 Aug 2021 | $244M | $1.00B | Cannae Holdings |
| Payment Processing & Point of Sale | 5 Aug 2021 | $120M | not disclosed | Flexpoint Ford |
| Payment Processing & Point of Sale | 25 Aug 2021 | $103M | not disclosed | National Bank of Canada |
| Payment Processing & Point of Sale | 20 Sep 2021 | $130M | $1.00B | Northzone |
| Payment Processing & Point of Sale | 26 Jul 2021 | $30M | not disclosed | Crédit Mutuel Equity |
| EBANX Payment Processing & Point of Sale | 15 Jun 2021 | $430M | not disclosed | Advent International |
| Payment Processing & Point of Sale | 21 Oct 2021 | $300M | $12.30B | Greenoaks |
| Payment Processing & Point of Sale | 15 Jun 2021 | $250M | $2.00B | SoftBank Latin America Fund |
Sources
Where this comes from
Reported by 2 sources.
Questions
Frequently asked
How much did OPay raise in its Growth round?
OPay raised $400M in its Growth round, announced in Aug 2021.
Who led OPay's Growth round?
SoftBank Vision Fund led it, with HSG, Source Code Capital, Long-Z, Redpoint China and 3W Capital and 2 more.
What was OPay's valuation at the Growth round?
$2.00B post-money ($1.60B pre-money).
How does it compare with other Growth rounds in Payment Processing & Point of Sale?
42 Growth rounds in Payment Processing & Point of Sale within a year either side disclosed an amount; the median was $98M, and this round was 4.1 times the median.