China investors back Africa-focused fintech startup

SoftBank Ventures, Sequoia also throw weight behind Lagos-based payments company

Women vendors display Nokia phone models for sale along with smartphones at the 'Computer Village' in Ikeja district in Nigeria's commercial capital Lagos, Nigeria May 31, 2017. REUTERS/Akintunde Akinleye © Reuters

EUDORA WANG, DealStreetAsia

November 21, 2019 12:58 JST

HONG KONG -- Africa-focused fintech startup OPay has secured $120 million in a Series B financing round mainly from Chinese investors.

Meituan-Dianping and its investment fund DragonBall Capital, Gaorong Capital, Source Code Capital, SoftBank Ventures Asia, Bertelsmann Asia Investments, Redpoint China, IDG Capital, Sequoia Capital China and GSR Ventures all took part in Series B, according to a statement released late on Monday.