OPay Digital Services is preparing for a U.S. initial public offering. The Nigerian-focused payments platform targets a valuation of approximately $4 billion.
The company hired Citigroup, Deutsche Bank, and JPMorgan Chase to advise on the potential listing. The IPO could take place later this year.
The target valuation doubles the $2 billion figure recorded during a 2021 funding round. SoftBank Group’s Vision Fund led that previous investment.
OPay launched in Nigeria in 2018. The platform provides mobile payments and financial transfers across Africa’s most populous nation.