OPay Eyes $4bn US IPO, Engages Citigroup, Deutsche Bank, JPMorgan
OPay, a Nigerian financial technology firm, is planning an initial public offering (IPO) in the United States, targeting a valuation of about $4 billion. The company has engaged Citigroup, Deutsche Bank, and JPMorgan to facilitate the IPO, which could happen later this year.
OPay, a financial technology firm backed by SoftBank, is advancing plans for a US initial public offering (IPO) with a targeted valuation of $4 billion. The company has engaged Citigroup, Deutsche Bank, and JPMorgan to facilitate the IPO. OPay was valued at $2 billion in 2021 after raising $400 million in a Series C funding round. The company has over 30 million registered users and operates through more than 500,000 agents nationwide in Nigeria. OPay's growth has been driven by Nigeria's cashless policy and the expansion of agency banking. A successful IPO would be a significant liquidity event for early investors, including SoftBank, Sequoia China, and Redpoint China.
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