OPay has rapidly become one of the leading mobile payment solutions in Nigeria, serving millions of users daily. But who owns OPay in Nigeria, and what’s behind its meteoric rise? In this article, we explore OPay’s ownership, its parent companies, key milestones, and its vision for the future of fintech in Nigeria.
What Is OPay?
OPay (originally Paycom Nigeria Limited, 2013) is a one‑stop digital finance platform licensed by the Central Bank of Nigeria (CBN) in 2018 and insured by the Nigeria Deposit Insurance Corporation (NDIC). Through its secure and user‑friendly app, OPay offers:
- Payments & Transfers
- Bill Payments & Airtime Top‑Ups
- Savings & Loans
- Agent‑based POS Services
- Ride‑hail and Food Delivery
OPay Ownership: Zhou Yahui & Opera Software
Chinese Tech Roots
- Zhou Yahui: Chinese billionaire, founder of Kunlun Tech Co. Ltd., and former chairman/CEO of Opera Software.
- Opera Software: Acquired in 2016 by Golden Brick Capital (backed by Kunlun), Opera pivoted from web browsers to financial services, leading to OPay’s creation in 2018.
Ownership Structure
- Opera Software (Parent Company)
- Kunlun Tech (Major Stake via Golden Brick Capital)
- Zhou Yahui (Founder & Influencer)
This blend of internet‑tech and browser expertise gave OPay both funding and global best practices.
READ MORE: Complete Opay USSD Code - Transfer, Airtime, Withdrawal & More
A Brief History of Opera Software
- 1995: Opera founded in Norway by Jon Stephenson von Tetzchner and Geir Ivarsøy.
- 2016: Opera’s consumer business sold for $1.2 billion to Golden Brick Capital, ushering in the fintech pivot.
- 2018: OPay (OperaPay) launched in Nigeria and Ghana, leveraging the Opera browser’s user base.
The Journey of OPay in Nigeria
| Year | Milestone |
|---|---|
| 2018 | Pilot launch in Nigeria and Ghana |
| 2019 | CBN license granted as Mobile Money Operator (MMO) |
| 2020 | Full rollout of financial services across Nigeria |
| 2021 | Closed $400 million Series A led by SoftBank Vision Fund |
| 2022 | Expanded into additional African markets |
| 2023 | Surpassed 50 million downloads on Google Play Store in Q1 2025 |
Insight: During its pilot, OPay processed over 1 million transactions, demonstrating early market traction.
READ MORE: Who Owns PalmPay in Nigeria?
OPay by the Numbers
- 70% of Nigerian youth reportedly have an OPay account.
- 50 million+ app installs (Google Play, Q1 2025).
- 30 million+ active users across Africa as of 2023.
Mission and Vision
READ MORE: Complete List of OPay Offices in Nigeria: Locations & Contact Information
OPay aims to deeply embed digital finance into everyday life:
“Our mission is to make financial services inclusive through technology, serving 1 billion users and 10 million merchants by 2031 while creating over 1 million jobs.”
Leadership & Governance
- Zhou Yahui – Founder & Major Shareholder
- Olu Akanmu – Former Nigeria CEO (until 2023)
Future Prospects for OPay
- Service Expansion: Beyond payments—loans, insurance, investments.
- Ecosystem Partnerships: Collaborations with merchants, delivery services, and telecom providers.
- Regulatory Alignment: Working with CBN to ensure trust and compliance.
Explore more about Nigeria’s fintech landscape in our article on top fintech startups in Africa.
Frequently Asked Questions
1. Who is the founder of OPay?
OPay was founded by Opera Software under the leadership of Zhou Yahui, who orchestrated the pivot into fintech.
2. When did OPay get licensed by the CBN?
OPay received its Mobile Money Operator (MMO) license in 2019.
3. How many users does OPay have?
As of Q1 2025, OPay boasts over 50 million downloads and 30 million active users across Africa.
4. What services does OPay provide?
OPay offers payments, transfers, bill payments, agent POS, ride-hailing, and food delivery.
5. How can I download OPay?
The OPay app is available on the Google Play Store and Apple App Store.
Conclusion
OPay’s success in Nigeria stems from strategic Chinese ownership, deep integration with everyday mobile devices, and a comprehensive fintech ecosystem. By understanding who owns OPay in Nigeria, you gain insight into how global tech players are shaping Africa’s digital finance future.
Ready to experience OPay? Download the app today and join millions embracing next‑gen fintech in Nigeria!
