Pay, a Nigerian payments and lending app, has filed to list on the New York Stock Exchange, Yinka Adegoke reported for Semafor. Earlier reports put its likely valuation at about $4bn.
The company filed on 9 October, bne IntelliNews reported. It will trade under the ticker OPAY, and investors expect it to price in mid-November, Semafor said. OPay has not set a price range.
Lending overtakes payments
OPay’s revenue rose 137% to $467mn in the first half of 2026, its filing shows. Net income more than quadrupled to $91mn.
Lending is now its biggest source of income, ahead of payments. Nearly nine-tenths of revenue comes from Nigeria.
OPay launched in 2018 and is controlled by Chinese billionaire Zhou Yahui. It once chased super-app plans, with motorbike taxis and food delivery, before narrowing to financial services. It raised $570mn from investors led by SoftBank between 2018 and 2021.
A bank on board
Standard Bank’s Africa arm has agreed to invest up to $200mn, capped at a 4.99% stake after the listing. Its Africa head, Lungisa Fuzile, is expected to join OPay’s board.
OPay also plans a second listing in Lagos. Its filing warns that shares there may not be swappable for those traded in New York.
It would be the first fintech with mostly Nigerian customers to list in the US. Earlier African listings in New York, such as Jumia, have had mixed results.
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