Founded by the same guys who run the Opera browser and Okash, the OPay startup has established its footing in Eastern Nigeria with the recent launch of OTrike in Aba, southeast of Nigeria.
Over the past 18 months, bike hailing startups have become major players in the tech ecosystem in Nigeria, with each competing for market share and traction. Among these startups, OPay is one of the most recognised for its aggressive advancements and user-friendly discounts.
This disruptive startup first started in 2018 as a mobile payment platform focused on the massive unbanked population in Nigeria. Since then, it has diversified into the bike hailing service, ORide and the food delivery service, OFood.
ORide launched first in May 2019 in Lagos, but it has since expanded into other major cities like Ibadan. Nearly a year after its entry into the Nigerian market, this startup has come up with another strategic service involving commercial tricycles (popularly known as kekes).
This new tricycle hailing service, referred to as OTrike, is making its debut in Aba. Just like ORide, discounts apply for trips less than NGN400 within the first launch month (August). Users can take trips to anywhere in Aba for NGN20, while it costs NGN50 to hire a private charter.
Located in Abia state, Aba city is popular for its market and its numerous business men and women. The city, with an industry-driven population of 2,434,265, has a market of those that patronise “keke-napeps” for transporting themselves and their goods from one destination to another. We expect that this market is large enough to adequately accommodate OTrike without eliminating independent tricycle operators.
Similar to ORide, OTrike is accessible via the OPay app, residents of Aba can utilise it in transporting to and fro any destination in the city
The launch of OTrike follows from the $50 million funding which OPay raised early last month with Source Code Capital, IDG Capital and Sequoia China as lead investors.