Are you an investor looking to diversify portfolio while staying within the same ecosystem, firms looking to expand through merger, businesses entering a new market and want to connect with OPay’s investors to leverage their knowledge and resources, or businesses looking for strategic partners that have similar market goals and financial backing with OPay? This article will give you 5 companies that share the same stakeholders with OPay.
In addition to the four reasons, stated above, why you might be interested in identifying companies that share stakeholders with OPay, knowing which investors that back OPay and similar companies also helps analysts predict market trends and potential business moves.
It also helps regulators and competitors to check if shared investors give certain companies too much control over the market, which can lead to unfair competition and monopoly. Financial analysts also review these investments to make sure investors are not putting too much money into one market, which could create financial risks.
Companies that share the same stackholders with OPay
1. Opera Limited
Opera Limited is the owner of the popular Opera Mini browser. OPay was incubated by Opera which simply means that the two companies both share the same stackholders.
Opera Limited didn't only venture into OPay, the company also also ventured into other OPay Digital Services Limited, such as Opera News Hub, which focuses on news distribution, and OKash, a platform offering online microloans in Nigeria.
2. Sequoia Capital
Sequoia Capital has been a major investor of OPay. The investment firm has also invested in several fintech companies in Nigeria and Africa at large, making it a shared stackholder in OPay and other companies.
The investment firm has participated in at least two funding rounds for OPay. In July 2019, they were among the lead investors in a $50 million funding round. Later, in August 2021, the company took part in a $400 million funding round led by SoftBank Vision Fund 2, which valued OPay at $2 billion.
In addition to OPay, Sequoia Capital China has invested in Afriex, a Nigerian blockchain-enabled money transfer startup. In April 2022, Afriex raised a $10 million Series A funding round led by Sequoia Capital China and Dragonfly Capital.
3. IDG Capital
IDG Capital, known for its global investment portfolio, has backed OPay and numerous other tech companies both in and out of Nigeria. The company has participated in two funding rounds for OPay.
First one in July 2019 when OPay raised $50 million from investors including Sequoia China, and Opera Limited. IDG Capital participated in the investment. In November 2019, the company also participated in OPay's $120 million Series B funding round.
4. SoftBank
In August 2021, SoftBank's Vision Fund 2 led a $400 million funding round for OPay, valuing the company at $2 billion. This is the only investment SoftBank made in OPay.
Beyond OPay, SoftBank has invested in other companies globally, including: Arm Holdings, Ampere Computing, WeWork, DiDi Global, ByteDance and others.
These investments position SoftBank as a shared stakes in various global tech companies alongside OPay.
5. PalmPay
Palmpay is a major competitor for OPay. In addition to the fact that both mobile money platforms are competitors, they also have the same stackholders. PalmPay has received investments from some of the same firms backing OPay, such as Transsion.
In summary, OPay shares stakeholders with a variety of companies, particularly within the technology and fintech sectors, both in Nigeria and globally. These shared investments show a plan to grow and connect digital services in emerging financial markets like Nigeria.
