Optasia, a Dubai-based fintech company partly owned by Ethos Capital, announced its plans to list on South Africa’s Johannesburg Stock Exchange (JSE) and raise up to 6.3 billion rand (US$375 million) through a combination of new and existing shares.
According to Reuters, the company will raise around 1.3 billion rand through an initial public offering (IPO) and conduct a private placement of at least 5 billion rand for existing shareholders, it said in a statement.
“An IPO will allow us to accelerate our growth, raise our visibility as a leading global fintech, and continue innovating to expand financial opportunity where it is needed most,”
said CEO Salvador Anglada.
Optasia provides AI-powered micro-financing and mobile airtime credit to individuals who often lack access to traditional banking services, particularly in emerging markets.
The company said it serves around 121 million monthly active users and processes over 32 million loan transactions daily.
Founded in 2012, Optasia operates mainly across Africa, the Middle East, and Asia.
Its distribution partners include South African mobile operators MTN, Vodacom, and Airtel.
Featured image credit: Edited by Fintech News Middle East, based on image by freepik
