OPay files for US IPO following significant revenue growth

Digital payments company OPay has filed for a U.S. initial public offering on the New York Stock Exchange, revealing significant growth in its registration statement with the Securities and Exchange Commission. The company reported that its revenue for the first half of the year more than doubled to $467.1 million, up from $197.5 million in the previous year. For the full 12 months ended June 30, revenue totaled $806 million.

OPay, which is backed by SoftBank entities and founded by Yahui Zhou, serves approximately 50.1 million monthly active users. The platform provides digital payments, savings, merchant tools, and credit services using artificial intelligence. The company currently operates across Nigeria, Indonesia, Egypt, and Pakistan, targeting emerging markets with young, digital-first populations.

As part of the offering, Stanbic Africa Holdings Limited has agreed to invest up to $200 million in a concurrent private placement. Following its potential NYSE listing, OPay plans to pursue a secondary listing in Nigeria. Underwriters for the offering include Citigroup, Deutsche Bank, Standard Bank, and CICC.