OPay makes $90.9 million profit in six months as it files for a US IPO

OPay, one of Nigeria’s leading fintechs, has revealed strong financial performance as it moves closer to potentially listing on the New York Stock Exchange (NYSE). Consequently, investors are getting a fresh glimpse into the company’s growing success.

In its registration statement submitted to the U.S. Securities and Exchange Commission (SEC) on October 9, 2026, OPay revealed impressive figures: its net income surged to $90.9 million for the six months ending June 30, a significant increase from just $21.7 million during the same time frame last year.

This sharp rise in profitability highlights OPay’s robust growth and effective business strategies.

Revenue has also seen remarkable growth, more than doubling to $467.1 million compared to $197.5 million a year earlier. These numbers are encouraging indicators that the fintech is not only expanding its operations but is also significantly increasing its earnings.

As part of its ambitions, OPay has applied to list its American depositary shares on the NYSE under the ticker symbol OPAY. This step marks a critical move towards a potential initial public offering (IPO) in the United States. However, it’s important to note that this filing doesn’t mean shares are available for purchase just yet, nor has a listing date been confirmed.

With these developments, the fintech is capturing the attention of investors and paving the way for its future in the financial markets.

OPay’s road to the US stock market

The fintech company is setting the stage for a significant leap into public markets. This move is part of its ongoing efforts to access private and public investment opportunities. The company is even considering a listing on the Nigerian Exchange, which could allow local investors a chance to invest in its shares.

As previously reported by TechNext, OPay has been associated with a potential Initial Public Offering (IPO) in the U.S., aiming for a valuation of around $4 billion. They have been in discussions with various financial institutions to help make their public market ambitions a reality. Notably, Standard Bank Group is reportedly negotiating to acquire a stake ahead of the IPO.

In the company’s latest filing, it enlisted several major underwriters, including Citigroup, Deutsche Bank, Standard Bank, and CICC, to guide it through this process. Additionally, Stanbic Africa Holdings has committed to invest up to $200 million through a concurrent private placement, showing confidence in OPay’s future.

Also read: OPay is installed in 69% of smartphones in Nigeria, more than any other fintech app

OPay, which was valued at $2 billion in 2021 after raising $400 million, is poised for growth. Its move to go public will provide investors with a fresh perspective on how much the company has evolved since its last funding round.

The company offers digital payments and lending services, impacting markets beyond Nigteria. With the rise of digital financial services in Nigeria, more consumers and businesses are turning to OPay for everything from money transfers to merchant payments.

A public listing would enable a higher level of scrutiny from potential investors, who will evaluate OPay’s revenue, profitability, risks, and growth plans.