Topic
Initial public offerings by financial-technology companies, including the gap between private funding-round valuations and public-market pricing.
Standard Bank Group has signed a subscription agreement to invest in OPay, a deal that completes only if OPay's proposed NYSE IPO goes ahead. The amount is not disclosed, so the stake cannot yet be sized against anything.
Reality
OPay's F-1 shows lending overtook payments as its top income source in H1 2026, with revenue up 137% to $467 million. Earlier reports put the November NYSE debut near $4 billion, about 22 times annualised profit.
Perspective Coverage
3 publishersReality
Revolut's planned US credit cards will offer rewards on par with JPMorgan and American Express, CEO Nik Storonsky told Bloomberg. Revolut has not put a price on that promise, and the cards wait on US regulators approving the full offering.
Reality
Revolut CEO Nik Storonsky told Bloomberg TV on Oct. 8 that the digital bank would put its primary listing in the US if it goes public. With a float not expected before 2028, the open question for London is whether it keeps a secondary listing beside New York.
Reality
Zilch has invited banks to pitch for a float as early as 2027, against a $2 billion private valuation of about 14 times revenue. The listing would test what public buyers will pay for a 2021 fintech price attached to a lender still reporting losses.
Reality