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OPay filed a registration statement with the U.S. Securities and Exchange Commission for a proposed initial public offering. The company reported 50.1 million monthly active users and $806 million in revenue for the 12 months ended June 30, 2026; IPO pricing, share count and a target valuation were not specified in the filing details cited by PYMNTS.
OPay has filed a registration statement with the U.S. Securities and Exchange Commission for a proposed initial public offering, the digital financial platform said in its filing, according to a report by PYMNTS published Oct. 9. OPay disclosed 50.1 million monthly active users and $806 million in revenue for the 12 months ended June 30, putting its scale and growth plans in public view as it prepares to enter the U.S. equity market.
The filing describes OPay as a financial platform serving consumers and merchants in emerging markets. Its consumer offerings range from digital payments to savings; merchant services include customer acquisition, payment acceptance and analytics tools. OPay also offers credit to consumers and merchants, using transaction data and what it describes as artificial intelligence-powered credit decisioning.
For the 12 months ended June 30, the company reported $806 million in revenue. It also reported year-over-year revenue growth of 137% in the first half of the year, according to the filing as summarized by PYMNTS. The report does not specify the corresponding first-half revenue amount or give further detail on the calculation period beyond the year-over-year comparison.
OPay says it plans to expand its product range, keep investing in infrastructure to support long-term scalability and enter markets where it sees unmet demand. Its filing points to young, digitally oriented populations, rising mobile internet access and regulatory changes as factors that could support demand across emerging markets. These are the company’s assessment of its opportunity, not a guarantee of future growth.
A large user base meets IPO scrutiny
The proposed listing would bring OPay’s operating figures and growth strategy before public-market investors. The reported 50.1 million monthly active users and $806 million in revenue offer indicators of the platform’s scale, while the company’s plans signal that its expansion could require continued spending on products and infrastructure.
For readers and potential investors, the IPO filing is an initial source of information, not a complete picture of the business. The metrics alone do not establish profitability, cash generation or the cost of acquiring and retaining users. The reported 137% first-half revenue growth is historical and does not guarantee that the pace will continue. Investors will need to assess the filing’s fuller financial statements, risk disclosures and offering terms as they become available.
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Earlier funding and valuation reports
OPay has previously attracted attention from international investors. PYMNTS reported in August 2021 that SoftBank’s Vision Fund 2 led a funding round for the company, describing it as the technology investor’s first foray into Africa. That financing is part of the company’s prior fundraising history, rather than a term of the proposed IPO.
Bloomberg reported May 1 that OPay was seeking a $4 billion valuation for its IPO. The same report said the figure would be double the $2 billion valuation OPay achieved in a 2021 funding round. That reported target is distinct from a final IPO valuation: the registration statement details cited in the Oct. 9 PYMNTS report do not confirm a price, valuation or completed offering.
““Millions of consumers and merchants use OPay for everyday transactions.””
— OPay, in its SEC registration statement, as quoted by PYMNTS
mobile payment processing terminal
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IPO price and financial details remain open
The information reported so far does not establish when the IPO will take place, how many shares OPay intends to sell, what price range it may set or how much it hopes to raise. It also does not confirm a final company valuation. Bloomberg’s reported $4 billion target should be treated as a prior report, not as an agreed IPO price or valuation.
The figures cited by PYMNTS do not provide the full financial picture. The available report does not state whether OPay was profitable, detail its cash flow or explain costs and margins. The filing’s account of its addressable markets and expansion prospects reflects management’s views; actual results will depend on factors that include competition, regulation and execution. The next public disclosures may add detail, but the terms and timing can change.
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Watch for amended filing and offering terms
The next milestones are further SEC disclosures and any updates OPay makes to its registration statement. Those materials could provide additional financial information, describe risks in greater detail and set out the proposed share sale. A price range and offering schedule, if announced, would help clarify the terms investors are being asked to evaluate.
Until the company or its filings disclose those details, the IPO remains proposed. OPay’s expansion plans are also forward-looking intentions: the company says it aims to broaden services, invest in infrastructure and enter markets with unmet needs, but the report does not identify a schedule or specific new markets.
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Key Questions
Has OPay completed its U.S. IPO?
No. OPay filed a registration statement for a proposed IPO. The report does not say that shares have begun trading or that the offering has been completed.
How many active users does OPay report?
OPay reported 50.1 million monthly active users in its filing, according to PYMNTS. The figure refers to monthly active users, not total registered accounts.
How much revenue did OPay report?
The company reported $806 million in revenue for the 12 months ended June 30, 2026. It also reported 137% year-over-year revenue growth in the first half, according to the filing as summarized by PYMNTS.
Is OPay’s IPO valuation confirmed at $4 billion?
No. Bloomberg previously reported that OPay was seeking a $4 billion valuation, but the IPO details cited in the Oct. 9 report do not confirm a final valuation or offering price.
What expansion plans has OPay described?
OPay says it intends to broaden its products and services, invest in infrastructure and enter markets where it sees unmet demand. The report does not name specific new markets or provide a timetable.
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