Nigerian-founded fintech company OPay has secured a $4 billion valuation through its United States stock market debut as it marks a major rise in its market worth and placing a business built around digital payments in one of the world’s most influential financial markets.
The SoftBank-backed company raised $304 million after selling 16 million American depositary shares at $19 each, the lower end of its proposed price range of $19 to $21. The offering values OPay at approximately twice its $2 billion valuation in 2021, when it raised $400 million in private funding.
The public listing gives investors an opportunity to buy into a company whose services have become part of everyday financial transactions in Nigeria and other emerging markets. OPay provides money transfers, payments, savings and loans through a single application, targeting customers who need alternatives to conventional banking services.
Its scale is reflected in its user figures. The company’s IPO prospectus put its monthly active users at approximately 50 million as of July 31, 2026. That figure offers an indication of the platform’s reach, although user numbers alone do not establish how profitable the business is or how much each customer contributes to its revenue.
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Founded in 2018 by Chinese billionaire Yahui Zhou, OPay operates in Nigeria and Indonesia, among other emerging markets. Zhou also founded Beijing Kunlun Tech, which previously owned the dating application Grindr.
The company’s latest valuation represents a substantial increase from its 2021 funding round. However, the decision to price its shares at the bottom of the proposed range suggests that investors were unwilling to pay the higher amount initially sought by the company.
That pricing decision is particularly notable because OPay entered the market amid difficult conditions for new stock offerings. Persistent inflation and a sell-off in artificial intelligence-related shares have unsettled investors, prompting some companies to postpone planned listings over concerns about market valuations.
OPay’s ability to raise $304 million under those conditions provides a measure of investor appetite for established fintech businesses, even as uncertainty weighs on the wider market.
The IPO prospectus also disclosed that SoftBank entities held a 6.6 per cent stake in the company before the offering. Citigroup, Deutsche Bank, Standard Bank and CICC served as underwriters responsible for managing the transaction.
OPay is expected to trade on the New York Stock Exchange under the ticker symbol OPAY.
OPay’s listing carries particular significance for Nigeria, where the company built a substantial part of its business around demand for accessible digital financial services.
Its entry into the US public market places that Nigerian-facing operation before international investors, although the $4 billion valuation applies to the company as a whole, not its Nigerian business alone.
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