SoftBank backed OPay raises $304 million in US IPO valued $4B
Business
OPay, a digital finance startup backed by SoftBank, just raised $304 million in its US stock market debut.
The company sold 16 million shares at $19 each, landing at the lower end of its expected range, and now sits at an estimated $4 billion valuation.
OPay reaches 50 million monthly users
Launched in 2018 by Yahui Zhou, OPay offers payments, transfers, savings, and loans across emerging markets, including Nigeria, Indonesia, and other emerging economies.
With 50 million monthly active users as of July 31, and shares will list under OPAY on the New York Stock Exchange, OPay is aiming to shake up how money moves in emerging markets.