Fintech

Chinese Investors Pump In $120 Million Into Nigerian Fintech OPay

Chinese Investors Pump In $120 Million Into Nigerian Fintech OPay. Nigerian fintech OPay is an arm of Opera, which is based in Norway and majority-owned by Chinese. Opera founded OPay in 2018, leveraging its success as a browser of choice on the African continent. OPay’s Series B round of $120 million was subscribed by investors that included Meituan-Dianping, GaoRong, Source Code Capital, Softbank Asia, BAI, Redpoint, IDG Capital, Sequoia China, and GSR Ventures.
OPay previously raised $50 million in June.

Banking Giant Banco Santander Snaps Up Control of Fintech Ebury To Focus on the Small Guys

Traditional bank Santander paid £350 million for 50.1% of payments fintech Ebury.
Banco Santander’s focus on small businesses as new clientele led it to buy a controlling interest in Ebury. The bank is planning to build a new trade platform for businesses. London-based Ebury is a startup fintech that provides a gamut of corporate services to small-to-medium sized international companies. These services include cash management, foreign exchange, and trade finance.

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