SoftBank’s Vision Fund 2’s first investment in Africa is set to help the mobile payment app expand its reach.

Nigeria-based mobile payments platform developer OPay has closed a $400m funding round led by telecommunication and internet group SoftBank’s Vision Fund 2, valuing the company at $2bn, according to Bloomberg.

SoftBank Ventures Asia, another vehicle for SoftBank, also took part in the round, as did DragonBall Capital, the investment arm of local services platform Meituan.

Sequoia Capital China, Redpoint China, Source Code Capital and 3W Capital filled out the round.

Spun off from web browser developer Opera in 2018, OPay…

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Fernando Moncada Rivera

Fernando Moncada Rivera is a reporter at Global Corporate Venturing and also host of the CVC Unplugged podcast.
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