Nigeria’s Fintech Challenger OPay Sees Valuation Soar Despite Tech Downturn
- OPay's valuation has climbed to between USD 2.7 B to USD 2.9 B, defying market trends.
- Opera divested its stake in OPay from 31% to 9.44%.
- OPay has shown resilience and growth, expanding its user base and achieving over 60% revenue growth in 2023.
OPay's significant increase in valuation and growth in the face of challenges in the African startup ecosystem is impressive. The company's focus on addressing the needs of Nigeria's unbanked and underbanked population, along with strategic expansions and partnerships, positions it for further success.
