SoftBank-backed fintech company OPay Digital Services Ltd. is planning to raise about $500 million through a New York initial public offering and a concurrent private placement, according to Bloomberg. People familiar with the matter said the fundraising package includes roughly $200 million from the private placement, with Standard Bank Group identified as the investor. The people asked not to be named because the information has not been made public. OPay provides mobile payments and other digital financial services. If the U.S. listing plan moves ahead, the company would join other SoftBank-backed businesses that have turned to public capital markets for funding.
SoftBank-backed fintech company OPay Digital Services Ltd. is seeking to raise about $500 million through a New York initial public offering and a concurrent private placement, according to Bloomberg.
People familiar with the matter said the fundraising plan includes about $200 million from the private placement, with Standard Bank Group as the investor. The people requested anonymity because the information has not been made public.
OPay mainly offers mobile payments and digital financial services. If the U.S. listing plan proceeds, it would become another SoftBank-backed company pursuing funding from public capital markets.
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