OPay is reportedly targeting $4bn valuation in planned US IPO push.
NewsOnline Nigeria reports that OPay is reportedly working with major global financial institutions, including Citigroup Inc., Deutsche Bank AG, and JPMorgan Chase & Co., as it prepares for a potential initial public offering (IPO) in the United States.
According to reports by Bloomberg, the SoftBank-backed fintech company is targeting a valuation of about $4 billion ahead of the planned listing, which could take place later this year.
The discussions and IPO plans remain private, with sources familiar with the matter indicating that preparations are still ongoing.
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Founded by Yahui Zhou, OPay has grown into one of Africa’s leading digital payment platforms, serving more than 40 million users across Nigeria and other markets.
The company raised $400 million in funding in 2021 at a valuation of $2 billion, attracting major investors including SoftBank Vision Fund and Sequoia Capital.
OPay’s planned public listing comes amid the rapid rise of Nigeria’s fintech sector, which has produced several billion-dollar startups, including Flutterwave, Moniepoint, and Interswitch.
These companies have expanded quickly by addressing longstanding financial challenges across Africa, including poor banking access, payment failures, and limited financial infrastructure.
Industry analysts believe a successful IPO by OPay could mark a major turning point for Africa’s technology ecosystem by boosting investor confidence and creating stronger pathways for venture-backed startups to access public markets.
The development could also attract increased international investment into Africa’s growing digital economy.
According to estimates by McKinsey & Company, Africa’s fintech sector could generate revenues of up to $47 billion by 2028.
If completed, OPay’s public listing would represent not only a significant milestone for the company but also a broader sign that Africa’s fintech industry is evolving from startup-driven expansion into a more mature market shaped by public investors and global capital.
