Nigerian fintech giant OPay is reportedly preparing for a major initial public offering in the United States, targeting a valuation of around $4 billion, according to industry reports.

The company has engaged leading global investment banks—Citigroup, Deutsche Bank, and JPMorgan Chase—to advise on the planned listing, although final timing and structure are still under review.

If successful, the IPO would mark a significant jump from its 2021 valuation of about $2 billion, when it raised $400 million in a major funding round backed by SoftBank’s Vision Fund.

Founded in 2018, OPay initially operated as a multi-service “super-app” but later shifted focus to digital payments and financial services in Nigeria. The pivot followed regulatory changes affecting its ride-hailing and logistics operations, pushing it to concentrate on fintech services.

Today, the company reports over 30 million users and a vast agent network exceeding 500,000 locations, making it one of Nigeria’s largest digital payment platforms. Its growth has been fueled by Nigeria’s rapid shift toward cashless transactions and expanding agent banking ecosystem.

Analysts say a successful US listing would not only provide liquidity for investors such as SoftBank and Sequoia-linked funds but also signal global confidence in African fintech companies at a time of tighter capital markets.

The move places OPay alongside other African fintech firms like Flutterwave that are also exploring international public listings.