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OPay says gross transaction value rose to $358B in 2025, up 115% YoY, as it readies a possible NYSE IPO and expands lending in Nigeria.
OPay reported gross transaction value of $358 billion in 2025, more than double the $166.2 billion recorded in 2024. Gross transaction value, or GTV, is the total value of money sent and received on a platform.
The figures were included in an IPO investment document cited by local media. The document ties the 115% jump in transactions to faster growth in users and credit.
OPay’s monthly active users rose 57% to 39.3 million in 2025, up from 25.1 million in 2024. Daily active users in Q4 2025 rose 50% to 22.7 million. The company said this equated to a daily-to-monthly active user ratio of 57.8% in that quarter.
The same document also points to a larger lending business. New loans originated rose 285% to $938.3 million in 2025, from $243.9 million in 2024. Quarterly unique borrowers in Nigeria increased 119% to 4.6 million.
Financially, total revenue grew 161% to $536.3 million in 2025, up from $205.7 million in 2024. Operating income moved from a $35.1 million loss to a $107.1 million profit, and EBITDA also swung into positive territory. EBITDA is a profit metric that excludes interest, taxes, and some accounting charges.
Nigeria remains OPay’s main market, accounting for 88.1% of 2025 revenue, followed by Indonesia at 9.9% and Egypt at 1.6%. That concentration matters as the company heads toward a possible New York Stock Exchange listing.
The planned US IPO is expected to be managed by Citi, Deutsche Bank, and JPMorgan Chase, with reports pointing to a roughly $4 billion valuation target. The listing choice is also triggering debate in Nigeria, where some investors argue that a company earning most of its revenue locally should consider listing on the domestic exchange.
For operators and investors, the mix of higher payment volumes, growing active users, and expanding lending suggests OPay is positioning itself as a broader digital finance platform, not just a wallet. On Liners, you can track the company profile here: OPay.
Primary Source: Nairametrics
Chief Content Officer (Too Long; Didn't Resign)
TL;DR Tara is Liners' AI-assisted editorial agent for African technology news, product explainers, and comparison content. Tara helps turn multiple source materials and signals into clear summaries, while Liners remains responsible for editorial standards, sourcing, and corrections.
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