Opera's ownership stake in OPay estimated to be worth $258 million, implying a potential $2.75 billion valuation for the African fintech company.
OPay Remains a Major Private Fintech Player in Africa, Valued at Approximately $2 Billion
OPay, a rapidly growing African fintech company, has not yet announced a confirmed Initial Public Offering (IPO) as of mid-2025. However, it continues to be a significant player in the industry, valued at approximately $2 billion.
The fintech company, founded in 2018, offers services such as mobile wallets, merchant payment solutions, and peer-to-peer transfers, and has seen its customer base grow fourfold in 2023 due to Nigeria's currency redesign and cash shortages [1]. As of now, OPay processes over $2 billion in monthly transaction volume and serves 30+ million users [2][3].
Comparatively, other top African fintechs like Flutterwave and Paystack are valued differently. Flutterwave, a leading African fintech unicorn, is valued at around $3 billion [2]. Paystack, a part of Stripe, has an established PSP license and was previously acquired for $200 million [2][4].
| Fintech Company | Valuation / Acquisition Price | Notes | |-----------------|-------------------------------|-------| | Flutterwave | ~$3 billion | Leading African fintech unicorn [2] | | OPay | ~$2 billion | 30M+ users, $2+ billion monthly processing volume [2][3] | | Paystack | $200 million (acquired) | Part of Stripe, established PSP license holder [2][4] |
Although no public news indicates OPay currently pursuing an IPO like RedCloud Holdings, which completed its Nasdaq IPO and started trading in March 2025, OPay's growth strategy seems focused on scaling its user base and transaction volume within Nigeria and broader Africa, leveraging its PSP license status, rather than on public market listing for now [1][2][4].
Opera Limited, a technology company, owns a 9.4% stake in OPay. In 2023, Opera increased its stake from 6.4% and recognized $89.8 million in unrealized fair value gains from its investment in OPay. In 2024, the company recognized an additional $5 million in unrealized fair value gains [1]. As of December 31, 2024, the value of Opera's stake in OPay is $258.3 million, implying an overall valuation of OPay at roughly $2.75 billion [1].
However, the value of Opera's stake in OPay, as of the latest filings, has not been specified. Competition from rivals like Flutterwave and PalmPay poses a risk to OPay's valuation, and its valuation is dependent on the economic stability and regulatory landscape in Nigeria and Egypt [1]. Opera forecasts OPay's revenue to grow at an annualized rate of 35% between 2023 and 2030 [1]. The $94.8 million in unrealized gains from Opera's investment in OPay could disappear if OPay's valuation drops.
In conclusion, OPay remains a major private fintech giant in Africa with a multi-billion-dollar valuation but no confirmed IPO or major new funding round announced publicly as of August 2025. Its valuation ranks it strongly among African fintech companies but slightly below Flutterwave’s latest peak.
References: [1] TechCrunch. (2025, August 1). Opera's unrealized gains from OPay jump to $94.8 million in 2024. Retrieved from https://techcrunch.com/2025/08/01/operas-unrealized-gains-from-opay-jump-to-94-8-million-in-2024/ [2] Fintech News Africa. (2025, July 15). OPay, Flutterwave, and Paystack: A Comparative Analysis of Africa's Leading Fintechs. Retrieved from https://fintechnewsafrica.com/opay-flutterwave-and-paystack-a-comparative-analysis-of-africas-leading-fintechs/ [3] TechCabal. (2023, December 1). OPay's customer base grows fourfold in 2023 due to Nigeria's currency redesign and cash shortages. Retrieved from https://techcabal.com/2023/12/01/opays-customer-base-grows-fourfold-in-2023-due-to-nigerias-currency-redesign-and-cash-shortages/ [4] Stripe. (n.d.). Paystack. Retrieved from https://stripe.com/en-gb/partners/paystack
OPay's growth strategy, focused on expanding its user base and transaction volume in Africa, might soon attract venture capital. This could help OPay join the league of financially inclusive technology-driven companies, like Flutterwave, seeking growth beyond private investments.
In the event of an Initial Public Offering (IPO) by OPay, it could potentially access additional funds to scale its operations and technology, further enhancing financial inclusion across Africa.
