August 13, 2020 All Things Fintech in Africa

Opay Expands as it launches tricycle hailing service, OTrike in Nigeria

 

Introduction

The opera company, the Chinese-backed startup is giving other fin tech startups a clear run for their money with strong product diversification.  In 2018, it started operations as a mobile payments platform to carter the Nigerian’s unbanked population. Opay has grown as a platform where merchants and buyers trust enough to use to perform transactions.  It soon diversified its product offerings into a food delivery service, Ofood and a motorcycle ride-hailing, ORide. The Opera –founded startup have further introduced a tricycle hailing service, in the commercial city of Aba, southeast of Nigeria and northwestern City, Kano.  This has moved the startup a step further to becoming Africa’s biggest super-app.

What is OTrike?

OTrike is a tricycle hailing service. The three-wheel  hailing app provides an opportunity  for Nigerian to embark  on short  road trips; involving using the OTrike app to book and board commercial tricycles. ORide giving its competitor, Gokada a huge market gap. While OTRike in turn is also penetrating the Nigerian ecosystem as  kekes  is on high demand both on major and minor roads.

What’s the Catch? 

The OTrike, which is popularly known as Maruwa  in Lagos, can be ordered by Aba  and Kano residents on their smart phones. The discounts on every trip are less than 400 naira. For a ride the company is offering the users a token of N20 for people in Aba and N30 for Kano OTrikers, while private trips cost about N50 in both cities.

What’s next?

The opera company doesn’t want to slow down. OTrike is likely to be expanded to other cities. With the recent 50 million dollars investment funding it received, the Opera Company has gone on an aggressive innovative spree. The capital is allowing the startup explore new and existing opportunities in commercial business, strengthen Opay as it makes its way to becoming a multi-service commercial platform.

 

Banner
Related Posts

Hollaport Launches in Lagos, Announces its Plan to Deepen Financial Inclusion

July 12, 2019

July 12, 2019

Kabiru Rabiu of BUA Group Launches Hollaport App Kabiru Rabiu, Group Executive Director of Bua Group, a leading Nigerian conglomerate...

Ghana Launch a Contactless Payment System Curb the Spread of COVID

March 30, 2020

March 30, 2020

  The Vice President of Ghana, Dr. Mahamudu Bawumia has launched a contactless payment system to encourage the adoption of...

Remitly Partner with Xpress Money to Expand Cross-border Money Services

December 2, 2019

December 2, 2019

Remitly is an online remittance service which allows users to transfer money from United states to Nigeria , while Xpress...

6 Facts About Paystack Nigeria You Never Knew Before

April 19, 2019

April 19, 2019 2

6 Facts About Paystack  Nigeria You Never Knew Before As the new kid on the block when it comes to...

Zazu Raises $1.4m in an attempt to expand their user base

December 11, 2019

December 11, 2019 1

  Zazu fully started as a digital banking space in 2107.  Previously, Zazu was a platform where farms could connect...

Paga Announces a Partnership with Visa

March 18, 2020

March 18, 2020

Paga has partnered with Visa to provide secure and convenient mobile payments solutions. The collaboration will enable Paga and Visa...

ZaZu Launches MasterCard Prepaid Cards Linked to Mobile Wallet

December 11, 2019

December 11, 2019

Zazu, a  Zambian Fintech startup Zazu has partnered with Mastercard  to issue prepaid cards linked  to its mobile wallet. Zazu...

Five Online Payment Platforms in Nigeria and How to Use Them

April 5, 2019

April 5, 2019 3

I would be writing on Five Online Payment Platforms in Nigeria and How to use them to make transactions on...

Konga Pay : Features you never knew  about and How it Works.

May 7, 2019

May 7, 2019

Konga Pay is a pilot product launched by Konga.com in 2015 for online shoppers.  Shopping on Konga was made easier...

Nigeria’s Paga Acquires Apposit

February 1, 2020

February 1, 2020

Paga is a multi-channel platform for users to transfer money, pay-bills, and buy things digitally. The company has 14 million...

Carbon, formerly Paylater now charges One Percent Transaction fee.

August 25, 2019

August 25, 2019 1

  Introduction Carbon, the lending platform formerly known as paylater started an app which not only allows one to borrow...

World Remit: A FinTech Startup Revolutionizing Money Transfer and Remittance  

April 17, 2019

April 17, 2019 1

World Remit, in short, is money transfer and remittance made easy. Within minutes of transactions, funds are being directly deposited...

FlutterWave  yet again secures a $35 million series round and a Partnership with WorldPay

January 24, 2020

January 24, 2020

  FlutterWave, a San Francisco and Lagos-based fintech startup has secured a $35 million Series  B round  and a partnership...

MOMO, the mobile money service, launched by MTN

September 5, 2019

September 5, 2019 2

On September 29th, 2019, MTN launched its mobile money business MoMo, in Hilton Abuja, Nigeria. The mobile money will allow...

Using Blockchain to Enable Faster Cross Border Remittance

May 10, 2019

May 10, 2019

Using Blockchain to Enable Faster Cross Border Remittance Blockchain derived its name from how it works and the way it...

Comments

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.