OPay eyes $4 billion valuation, hires Citigroup Inc., Deutsche Bank AG, JPMorgan Chase & Co. for planned US IPO
OPay is working with Citigroup Inc., Deutsche Bank AG, and JPMorgan Chase & Co. as it prepares for a potential initial public offering, according to people familiar with the matter.
Black News 
OPay is working with Citigroup Inc., Deutsche Bank AG, and JPMorgan Chase & Co. as it prepares for a potential initial public offering, according to people familiar with the matter.
- OPay is working with major banks such as Citigroup, Deutsche Bank, and JPMorgan Chase as it prepares for a possible US IPO.
- The company, backed by SoftBank, is seeking a valuation of around $4 billion and may go public later this year.
- OPay's IPO effort reflects Nigeria’s growing reputation as a fintech innovation hub, alongside other unicorns like Flutterwave and Moniepoint.
OPay is working with Citigroup Inc., Deutsche Bank AG, and JPMorgan Chase & Co. as it prepares for a potential initial public offering, according to people familiar with the matter.
The SoftBank Group Corp.-backed payments platform is planning a US listing and is targeting a valuation of around $4 billion. The IPO could take place later this year, although details remain private, Bloomberg reported.
OPay’s move comes at a time when Nigeria has emerged as a hub for fintech innovation, producing unicorns such as Flutterwave, Moniepoint, and Interswitch.
These platforms have grown rapidly by solving persistent challenges in Africa’s financial systems, from failed transactions to limited banking access.
Opay, founded by Yahui Zhou, raised $400 million in 2021 at a $2 billion valuation. It now serves more than 40 million users and counts investors such as SoftBank Vision Fund and Sequoia Capital among its backers.
A potential turning point for African tech
A successful listing could reshape investor confidence in African tech, offering a clearer path to liquidity for venture-backed startups and encouraging more global capital into the continent’s digital economy. With McKinsey & Company estimating that African fintech revenues could reach $47 billion by 2028, the stakes are high.
If executed, OPay’s IPO would not just be a company milestone—it could signal that Africa’s fintech ecosystem is maturing, moving from rapid growth and private funding into a new phase where public markets begin to play a defining role.
