Nigerian fintech OPay files for New York IPO, Semafor reports
Pay, a Nigerian payments and lending app, has filed to list on the New York Stock Exchange, Yinka Adegoke reported for Semafor. Earlier reports put its likely valuation at about $4bn.
The company filed on 9 October, bne IntelliNews reported. It will trade under the ticker OPAY, and investors expect it to price in mid-November, Semafor said. OPay has not set a price range.
Lending overtakes payments
OPay’s revenue rose 137% to $467mn in the first half of 2026, its filing shows. Net income more than quadrupled to $91mn.
Lending is now its biggest source of income, ahead of payments. Nearly nine-tenths of revenue comes from Nigeria.
OPay launched in 2018 and is controlled by Chinese billionaire Zhou Yahui. It once chased super-app plans, with motorbike taxis and food delivery, before narrowing to financial services. It raised $570mn from investors led by SoftBank between 2018 and 2021.
A bank...
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