OPay, a SoftBank-backed payments company, has hired Citigroup, Deutsche Bank, and JPMorgan for a planned US IPO and wants a valuation of about $4 billion. This shows stronger investor confidence in large fintech firms that can show scale and steadier earnings.
Big banks are already in place
Choosing three global banks is a big listing effort. OPay plans to list in the US and sell shares later this year. Reuters reported in April that 2026 is shaping up as the strongest IPO year since the post-pandemic drought, even after fresh market swings. That gives OPay a better opening than many tech firms had in the last few years.
The business has real weight now
In 2021, OPay raised $400 million at a $2 billion valuation in a round led by SoftBank Vision Fund 2, according to TechCrunch. In May 2024, OPay said it served more than 50 million users and 1 million merchants, processed more than $12 billion each month, and recorded its first month of profitability. Those figures explain why the company now wants public market pricing above its last major private round.
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Mobile money keeps growing across Africa
OPay built its core business in a region where digital payments still have room to expand. The World Bank says 33 percent of adults in Sub-Saharan Africa had a mobile money account in 2021. GSMA says mobile money handled more than $2 trillion worldwide in 2025, while active 30-day accounts rose 15 percent to 593 million, with Sub-Saharan Africa adding most of the new accounts. That growth keeps drawing investor interest to payment leaders in big markets such as Nigeria.
Public investors will ask harder questions
An IPO brings more attention and more pressure. Reuters says buyers in the 2026 IPO market want disciplined pricing and attractive valuations, while GSMA says fraud and consumer protection still shape mobile money growth. OPay now has to show that its scale, profit path, and compliance work can stand up to public scrutiny. If it does that well, the listing will give African fintech another strong case for public market trust.
