AI-driven financial technology company Optasia has announced plans to go public on the Johannesburg Stock Exchange (JSE), aiming to raise up to USD 375 million. The funds will come from a mix of new and existing shares, according to a company statement released this week.
Of the total amount, around USD 75.7 million will be generated through an initial public offering, while a further USD 291 million will be raised via a private placement involving current shareholders. The fintech firm, partly owned by Ethos Capital, said the move is intended to strengthen its balance sheet and expand its financial inclusion initiatives across developing markets.
Expanding access to financial services
Optasia, based in Dubai, provides artificial intelligence-powered financial services such as micro-lending and airtime credit, primarily to users without access to conventional banking. Operating across 38 countries, the company reports roughly 121 million monthly active users and says it facilitates more than 32 million loan transactions each day.
According to representatives from Optasia, listing on the JSE is expected to support the firm’s regional expansion and enhance its profile among institutional investors. They noted that the company’s technology enables mobile operators and financial institutions to extend credit to unbanked and underbanked populations in emerging markets.
Founded in 2012, Optasia operates mainly across Africa, the Middle East, and Asia. It partners with several major telecom operators, including MTN, Vodacom, and Airtel, which serve as key distribution channels for its services.
