OPay targets $4B valuation in US IPO with bank backings

OPay Digital Services Ltd., the Nigerian-focused fintech backed by SoftBank Group, is preparing for a potential listing in the United States as it eyes a valuation of about $4 billion.

According to people familiar with the matter, the company has engaged major global investment banks, including Citigroup, Deutsche Bank, and JPMorgan Chase, to work on the planned initial public offering (IPO).

Sources said the fintech firm could proceed with the share sale later in 2026, although details of the offering remain private and subject to change.

The planned IPO marks a significant step for OPay, which has grown rapidly in Nigeria’s digital payments space, offering services ranging from mobile wallets to agency banking.

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A $4 billion valuation would represent a major jump from its earlier funding rounds and highlight rising investor confidence in African fintechs, particularly those focused on financial inclusion and digital payments.

If completed, the listing would position OPay among a small but growing group of African startups seeking capital from global public markets, as the sector looks beyond private funding to scale operations and deepen market reach.