Dubai-based fintech Optasia, partly owned by Ethos Capital, has announced its intention to list on the main board of the Johannesburg Stock Exchange (JSE). The company aims to raise up to 6.3 billion rand (about $375 million) through a combination of newly issued shares and a secondary sale by existing shareholders. The transaction is expected to become the largest fintech IPO ever on the JSE.
🔔 Don't miss any African financial news! Follow us on WhatsApp with one click.
The plan includes a primary issuance of 1.3 billion rand ($75 million) to fund organic growth and potential acquisitions, along with a secondary sale of at least 5 billion rand ($300 million) through a private placement to qualified investors. The shares will trade under the abbreviated name “Optasia” with the code OPA, in the Finance and Credit Services sector, subject to regulatory approval.
Driving financial inclusion across emerging markets
Founded in 2012, Optasia has grown into one of the largest AI-powered fintech platforms providing microloans and airtime credit across 38 countries, primarily in Africa, the Middle East, and Asia. The company partners with 49 mobile operators (including MTN, Airtel, Vodacom, Indosat, and Jazz) and 13 financial institutions, reaching over 860 million mobile subscribers. Optasia serves 121 million active monthly users and processes over 32 million loan transactions per day.
Using its proprietary AI engine, the platform analyzes millions of data points in real time to improve credit scoring and enable instant access to financial services for underbanked populations. Since 2016, Optasia has disbursed more than $23 billion in microloans, helping bridge the gap in financial inclusion across emerging markets.
Sustained growth and profitability
Optasia continues to post strong results, with $151.2 million in revenue for 2024 and $117.2 million in the first half of 2025, representing a year-on-year increase of over 90%. Its adjusted EBITDA reached $53.8 million for the first half of 2025, highlighting the scalability of its capital-light, data-driven model.
Expanding presence and product diversity
The company enjoys high entry barriers, a diversified geographic footprint (no single country contributing more than 19% of revenues), and a comprehensive product suite ranging from microfinance to SME credit solutions. Its Micro Financing Solutions (MFS) segment now accounts for 62% of total revenue, reflecting a strategic shift toward higher-value products.
Optasia plans to continue investing in its technology — with over $37 million already invested to date — to strengthen its competitive edge and meet the surging demand for digital financial services in emerging economies.
