Nigeria’s leading digital payments platform, OPay, is taking a major step toward global expansion as it prepares for a potential United States listing targeting a valuation of about $4 billion.
To drive the planned Initial Public Offering (IPO), OPay has appointed global financial heavyweights including Citigroup, Deutsche Bank, and JPMorgan Chase as lead advisers. While the listing could happen later in 2026, timelines and deal size are still subject to market conditions.
The move represents a significant leap from OPay’s last major funding round in 2021, when the company raised $400 million at a $2 billion valuation. Achieving the new target would effectively double its valuation within five years, underlining its rapid growth trajectory.
Backed by SoftBank, OPay has evolved from a ride-hailing and payments startup into a dominant super app in Nigeria, serving over 40 million users. Its platform addresses key infrastructure challenges such as failed banking transactions, network disruptions, and fraud issues that continue to drive demand for reliable mobile financial services.
Nigeria has emerged as a major hub for fintech innovation, producing unicorns like Flutterwave, Moniepoint, and Interswitch. OPay’s IPO plans align with a broader trend of African fintech firms exploring international capital markets to fuel expansion.
According to Bloomberg, the company’s listing ambitions mirror similar moves across the sector. For instance, Airtel Africa is reportedly considering a London listing of its mobile money division at a valuation of around $2 billion.
Further reinforcing investor interest, McKinsey & Company estimates that Africa’s fintech sector could generate up to $47 billion in revenue by 2028, highlighting the continent’s vast growth potential.
Despite the excitement, OPay has yet to file publicly with U.S. regulators, and representatives of the company and its appointed banks have declined to comment on the development.
Industry observers note that OPay’s recent hiring of experienced international executives including a former Citigroup managing director as Chief Financial Officer signals readiness to meet the governance and transparency standards required of a U.S.-listed company.
If successful, the IPO could become one of the largest listings by an African tech firm in recent years, potentially opening the door for other fintech players on the continent to follow suit.
