Fintech firm OPay processed $358bn (£276bn) in gross transaction value in 2025, more than double the $166.2bn recorded in 2024, according to an investment document detailing its planned Initial Public Offering (IPO).
The 115 per cent surge in transaction volume was accompanied by rapid growth in user activity and lending, as the company prepares for a potential listing on the New York Stock Exchange targeting a $4bn valuation.
Monthly active users rose 57 per cent year-on-year to 39.3 million in 2025, while total revenue increased 161 per cent to $536.3m. The company also returned to profitability, posting an operating profit of $107.1m compared with a $35.1m loss in 2024.
New loans originated by the digital platform grew by 285 per cent to $938.3m, with unique quarterly borrowers in Nigeria rising to 4.6 million.
Nigeria remains the company’s primary market, generating 88.1 per cent of total revenue in 2025, followed by Indonesia at 9.9 per cent and Egypt at 1.6 per cent.
The planned US listing, managed by Citigroup, Deutsche Bank, and JPMorgan Chase, has drawn calls from local market stakeholders for high-growth tech firms operating primarily in Nigeria to consider dual or domestic listings on the Nigerian Exchange.
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