OKash, the micro-lending service, is growing at an incredible pace.

In the three months between July and September 2019, the service provided approximately 5 million loans valued at $250 million in Kenya, India and Nigeria. During the same period, the quick loans platform tripled its revenue to $39.9 million.

Owned by Opera, the Norway-based software maker, OKash uses credit scores and other insights to provide short-term loans within a few minutes. The company offers a repayment period of 60 to 90 days, in compliance with Google’s new policy for lending apps.

Originally founded by OPay, OKash first launched in Kenya, and it exited beta testing in March 2018.

When it emerged, the service operated as the lending arm of OPay, a company Opera incubated. But in December 2018, Opera acquired OKash from OPay for $9.5 million. In 2019, OKash expanded to Nigeria and India.

However despite its sale, in Nigeria OKash is still operated under the OPay app, a partnership that continues to confuse many people. According to Opera, “OKash in Nigeria is leveraging the OPay wallet to transfer funds to and from its users.” But outside Nigeria, OKash is a standalone app.
https://www.necticon.com.ng/okash-provided-250m-worth-of-loans-in-3-months-opera-says-in-q3-report/