OPay, a digital bank and fintech platform in Nigeria and other emerging markets, filed on Friday with the SEC for an initial public offering we estimate could raise up to $500 million.
OPay is a digital financial platform built for the challenges of emerging markets. It was the #1 finance app in Africa and the Middle East, with a 9.9% market share based on monthly active users in the six months ended June 30, 2026. Since launching in Nigeria, OPay has become the country’s leading digital financial platform and was the country's #2 app across all categories based on daily active users as of July 31, 2026. In addition to Nigeria, the company operates in Indonesia (loan facilitation), Egypt (merchant acquiring services), and Pakistan (merchant acquiring and consumer wallet services).
The Singapore-based company was founded in 2017 and booked $806 million in revenue for the 12 months ended June 30, 2026. It plans to list on the NYSE under the symbol OPAY. OPay filed confidentially on February 12, 2026. Citi, Deutsche Bank, Standard Bank, and CICC are the joint bookrunners on the deal. No pricing terms were disclosed.
