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OPay Announces Its First Monthly Profit With Nearly 10 Million Daily Active Trading Users

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SINGAPORE, May 10, 2024 /PRNewswire/ — OPay, the leading Fintech company focused on emerging markets, today announced its landmark first monthly profitability, with daily active trading users soaring past 9 million and poised to breach the 10 million mark. This marks a significant milestone in OPay’s remarkable journey.

Since its inception in 2019, OPay has been providing cutting-edge payment, digital wallet, and other financial services to customers across Africa and Asia. Leveraging the power of AI and big data, OPay offers innovative financial technology solutions that reshape the traditional financial landscape. Currently, OPay’s services span countries including Nigeria, Egypt, Pakistan and other countries.

By integrating advanced financial technology into local financial ecosystems through technological innovation, OPay has been instrumental in supporting the digital transformation of local businesses and providing convenient financial services to vast populations in Africa and the Middle East who are under-served or lack traditional banking access. After five years of relentless innovation and growth, OPay has established itself as a market leader in Nigeria and Egypt, playing a pivotal role in promoting inclusive finance in emerging markets.

Yahui Zhou , Chairman of OPay, commented, “OPay’s mission is to make financial services more inclusive through technology. We will continue to uphold our long-term perspective, remain grounded in our principles, create value for our customers, and strengthen our capabilities in four key areas: security, data analytic, monetization, and compliance. Our aspiration is to become the most respected, popular, and socially valuable Fintech company.”

OPay’s rapid growth and outstanding performance in Africa and the Middle East have garnered international media attention and industry recognition. In February 2022, Forbes reported that OPay provided innovative financial technology solutions in the Middle East and North Africa. In June 2022, CNN conducted an in-depth report on OPay’s development in Nigeria, recognizing it as a leader and pioneer in business transformation in Africa. Additionally, OPay has been selected as one of the CB Insights Global Fintech 250 for three consecutive years. In 2023, OPay was also named in the CNBC Global Fintech 200.

In a strategic move in May 2022, OPay forged a partnership with Mastercard, solidifying its status as a trusted partner of the world’s leading financial institutions. This collaboration significantly expanded digital commerce opportunities for millions of individuals in the Middle East and Africa, promoting greater financial inclusion, economic growth, and the further establishment of a robust financial ecosystem.

In early 2023, Pakistani President Arif Alvi met with OPay Chairman Yahui Zhou to discuss the vast potential of Pakistan’s digital economy. The two sides engaged in insightful discussions on how OPay’s cutting-edge Fintech technology could assist Pakistan in achieving a cashless society and embracing the digital economy with AI. The Pakistani President expressed his profound admiration for OPay’s achievements and aspirations, hoping that OPay could bring advanced Chinese Fintech technology to contribute significantly to Pakistan’s digital economy and inclusive finance development.

Since its inception, OPay has attracted investments from numerous top-tier domestic and international investment institutions. In November 2019, OPay successfully closed a B-round financing of 120 million dollars, with investors including Long-Z Investments, Source Code Capital, IDG Capital, and HongShan (formerly known as Sequoia China). In 2021, OPay raised a 400 million C-round financing led by SoftBank Vision Fund, with follow-on investments from Long-Z Investments, HongShan(formerly known as Sequoia China), Redpoint China Ventures, Source Code Capital, SoftBank Asia Fund, and 3W Capital, post-investment valuation reached $2 billion.

By April 2024, OPay has established a robust foothold in emerging markets, serving over 50 million users and 1 million merchants, boasting monthly transaction volumes surpassing $12 billion. With daily active trading users approaching the 10 million mark, OPay has also created a significant impact, fostering 400,000 direct and indirect job opportunities.

A recent report by BCG and QED Investors titled “Global Fintech 2023: Reshaping the Future of Finance” forecasts a sixfold growth in Fintech revenues, from 245 billion dollars in 2021 to a staggering 1.5 trillion dollars by 2030. Notably, Africa is poised to emerge as one of the fastest-growing regions in the global Fintech landscape, with a projected compound annual growth rate of 32% for Fintech revenues.

Looking ahead, OPay remains committed to expanding its reach in emerging markets such as Nigeria, Egypt, and Pakistan, while also venturing into new countries and regions. The company aspires to provide safer, more convenient, and inclusive financial services to its users, contributing significantly to the development of local digital economies. OPay’s vision is to serve 1 billion users and 10 million merchants, ultimately creating 3 million job opportunities by 2031.

Photo – https://mma.prnewswire.com/media/2409143/OPay.jpg

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Tan Xuguang: Driving Strategic Collaboration with Leading Global Industry Enterprises

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MUNICH, May 24, 2024 /PRNewswire/ — From May 22nd to 23rd, 2024, Tan Xuguang, along with a delegation, convened in Munich, Germany, to conduct a visit and engagement with prominent entities including Germany’s TÜV Süd Group, FEV GmbH, and MAN Truck & Bus Group, a subsidiary of the Volkswagen Group. The primary objective of this initiative was to tackle the challenges posed by the advent of the new technological landscape. Central to this endeavor was the establishment of a succession of strategic cooperation agreements aimed at harmonizing global cooperation frameworks.

On May 23rd, 2024, Tan Xuguang and his delegation paid a visit to the MAN Truck & Bus Group, operating under the Volkswagen Commercial Vehicles Traton Group. During this visit, they engaged in comprehensive discussions with Christian Levin, who serves as both the Chairman and CEO of the Volkswagen Commercial Vehicles Traton Group and as the President and CEO of the Scania Commercial Vehicles Group. The focal point of these discussions revolved around the anticipated competitive dynamics and technological trajectories within the global commercial vehicle industry.

Christian Levin articulated, “Throughout the past year, our management teams have participated in numerous efficient and pragmatic visits and exchanges, resulting in the elevation of our cooperative relationship to unprecedented heights. We hold deep admiration for the accomplishments of the Sinotruk Group within the global heavy-duty truck market in recent years. The alignment of our industrial chain layouts presents mutually beneficial synergies, paving the way for extensive strategic cooperation opportunities. We eagerly anticipate the deepening of exchanges and collaboration within the realm of new technologies, with the overarching goal of achieving development that is mutually advantageous.”

Tan Xuguang asserted, “The Volkswagen Commercial Vehicles Traton Group has consistently served as a benchmark from which we derive invaluable insights. The longstanding successful collaboration between the Sinotruk Group and the MAN Truck & Bus Group in Germany spanning 15 years underscores our status as close strategic partners. Irrespective of past, present, or future, our alliance remains steadfast. We are resolutely committed to broadening cooperation across the comprehensive spectrum of ‘traditional energy + new energy’ and dual industrial chains, thereby facilitating win-win outcomes in the global arena of cooperation and competition.”

Tan Xuguang and his delegation conducted a tour of the intelligent heavy truck factory operated by the MAN Truck & Bus Group. Throughout the duration of the visit and ensuing discussions, Alexander Vlaskamp, Chairman and CEO of the MAN Truck & Bus Group, provided continuous accompaniment, offering insights and facilitating exchanges.

On May 22nd, 2024, Tan Xuguang presided over a strategic technology seminar held in Munich, facilitating collaboration between Weichai and the German engine technology consulting company, FEV. The seminar brought together experts from both FEV and Weichai headquarters, fostering extensive exchanges and discussions pertaining to product enhancements, competitive benchmarking, and future strategic planning.

Photo – https://mma.prnewswire.com/media/2421303/image_5030058_9062673.jpg
Photo – https://mma.prnewswire.com/media/2421304/image_5030058_9062893.jpg

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2024 Blockchain Critical Trend: Unveiling New Financial and Development Opportunities in Southeast Asia

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None Group, a leading blockchain group, today released its 2024 Blockchain Critical Trend report, providing a comprehensive overview of the blockchain ecosystem in Taiwan and Southeast Asia. The report highlights key trends, regulatory frameworks, and emerging opportunities for businesses, investors, policymakers, and technology enthusiasts.

Blockchain Critical Trend” released by None Group is now available for download.

Southeast Asia Emerges as a Global Financial Hub with Blockchain at the Forefront

Southeast Asia, with its unique financial landscape and over 400 million active internet users, has become a global financial hotspot, especially in the wake of the pandemic. Recognizing this opportunity, None Group has collaborated with strategy partners such as the Taiwan FinTech Association, Bitcoin Addict (Thailand), Coin98 (Vietnam), Coinvestasi (Indonesia), and Malaysia Blockchain Week to bring together 14 industry leaders to share their market insights and unveil exclusive investment opportunities.

To further promote cross-border collaboration between Southeast Asia and Taiwan, None Group will host blockchain trend release events in Vietnam and Taiwan. The Vietnam event will be held on June 5, while the Taiwan event is scheduled for July 10. These events will focus on industry trends and related blockchain topics.

Key Highlights of the 2024 Blockchain Critical Trend

The 2024 Blockchain Critical Trend report unveils the Southeast Asia blockchain landscape, covering various segments and project details. The report highlights three key takeaways:

  • Focus and Attitudes of Southeast Asian Governments
  • Expert Insights into the Industry Ecosystem
  • Cross-Border Collaboration Opportunities and Potential Explosion Points

Read the full 2024 Blockchain Critical Trend (TaiwanThailandVietnamIndonesiaMalaysiaSingaporePhilippines)

The post 2024 Blockchain Critical Trend: Unveiling New Financial and Development Opportunities in Southeast Asia appeared first on HIPTHER Alerts.

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ONCOCLÍNICAS APPROVES R$ 1.5 BILLION CAPITAL INCREASE

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Operation aims to strengthen the Company’s financial position and maintain growth strategy

SAO PAULO, May 23, 2024 /PRNewswire/ — Oncoclínicas&Co (B3: ONCO3), a leading oncology company headquartered in Latin America, has announced that the enterprise has approved a capital increase of R$ 1.5 billion at a Board of Directors meeting held on May 22, 2024.

This capital increase complies with the ceiling established within the company’s Articles of Association and does not require any statutory change. The capital increase will be carried out through the issuance of 115.4 million new registered ordinary shares with no par value.

With this issuance, Oncoclínicas&Co strengthens its capital structure, significantly reduces leverage, and increases liquidity to continue to provide better access to advanced oncology treatments to cancer patients, achieve economies of scale, and optimize the costs associated,

Investors of the Quíron Multi-Strategy Equity Investment Fund (“Quíron”) and the Tessália Multi-Strategy Equity Investment Fund (“Tessália”), investment vehicles anchored by Banco Master, entered into an investment agreement with the company and committed to subscribe up to R$ 1 billion of new shares, to be issued by Oncoclínicas&Co.

In addition, founding shareholder and CEO Bruno Lemos Ferrari announced his intention to subscribe up to R$ 500 million worth of new shares.

“The capital increase significantly strengthens our capital structure and makes us even better equipped to take advantage of future growth opportunities, while continuing to provide exceptional quality care with an acute focus on our patients and their families,” emphasized Ferrari.

The terms of the capital increase provide for the issuance of new shares at a price of R$ 13.00 per share, representing a premium of 89% over the market value, based on a recent valuation by XP Finanças Assessoria Financeira Ltda. The funds raised will be used to reduce the company’s consolidated debt, improve its cash position, maintain its growth strategy, continue its organic expansion plans, and for general corporate use.

Josephina Multi-Strategy Equity Investment Fund and Josephina II Multi-Strategy Equity Investment Fund (together the “FIPs”), investment vehicles of Goldman Sachs, have agreed to transfer their respective preferential rights to the investors of Quíron and Tessália as part of the capital increase.

Daniel Vorcaro, President of Banco Master, emphasized that “…Healthcare is one of the markets with the greatest growth potential in Brazil in the coming years, whether in the pharmaceutical industry, primary care or high value-added services, arenas where Oncoclínicas&Co occupies a prominent position in Latin America. Being part of a company that is revolutionizing access to oncology treatments in the country, alongside Goldman Sachs, is a great opportunity and indeed a privilege for our company to undertake.”

According to João Padin, Vice President of Corporate Equity Investments at Goldman Sachs Asset Management, the transaction demonstrates the attractiveness and strength of Oncoclínicas&Co’s business model.

“The funds raised are important for continuing the growth strategy and strengthening the Group’s capital structure. In this way, Oncoclínicas&Co underlines the solidity of its business and its commitment to the quality of the services offered to patients,” he added.

The notice to shareholders is available on the Investor Relations website of Oncoclínicas&Co, the CVM website and the B3 S.A. website.

Oncoclínicas&Co reaffirms its commitment to transparency and corporate governance and will keep its shareholders and the market informed of the next steps in this capital increase process.

Note To Editors:

Last year alone, the company carried out more than 600,000 procedures and has expanded its service capacity in recent years to meet the growing demand for cancer treatment. Forecasts from cancer institutes around the world and in Brazil point to a significant increase in the disease over the next two decades, mainly due to an aging population. In Brazil, the National Cancer Institute expects more than 700,000 new cases per year in the period 2023-2025.

For further information, visit http://www.grupooncoclinicas.com

View original content:https://www.prnewswire.co.uk/news-releases/oncoclinicas-approves-r-1-5-billion-capital-increase-302154787.html

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