OPay Set to Launch on Wall Street - Here’s How It Could Impact You

Nigerian fintech giant OPay is preparing for a US IPO that could value the company at $4 billion, doubling its worth from 2021. With over 50 million users and $12 billion in monthly transactions, this move has significant implications for both investors and everyday customers.

The Origin Story Matters

Launched in Nigeria in 2018 by Chinese billionaire Yahui Zhou (founder of Opera browser), OPay initially focused on motorcycle taxis before pivoting to financial services when the Lagos state government banned commercial motorcycles. This strategic shift allowed OPay to capitalize on unmet needs in the market, offering cheaper and more reliable alternatives than traditional banks.

Financial Performance Highlights

• Full-year 2025 revenue: $614.8 million (up 28% year-on-year)
• Monthly transaction volume: Roughly $12 billion
• Agent network: Over 500,000 across Nigeria
• User base: 50 million+ people using the app for payments and savings

Who Else Has a Stake?

Opera, the Norwegian browser company that incubated OPay, still holds a 9.5% stake valued at $294.6 million - a significant contributor to Opera’s bottom line.

This creates urgency as Opera seeks to convert its paper gain into real cash through an IPO, which would benefit both companies’ investors.

The Question on Everyone’s Mind: Fees

OPay built its user base by offering competitive transaction fees - sometimes even free transfers - attracting customers dissatisfied with traditional banking charges. But can this strategy survive a public listing?

While OPay hasn’t announced any fee changes, some users have reported increased charges in recent months, including:

• VAT now charged at every transaction above ₦10,000 (previously once per day)
• Charges appearing on previously free OPay-to-OPay transfers

The company faces a delicate balancing act: maintaining affordability while meeting investor expectations for revenue growth.

What do you think? Will OPay’s IPO lead to higher transaction fees, or will the competition in Nigeria keep prices affordable?