JSE-listed Optasia raises over $300 million in refinancing to boost Africa’s fintech growth

Optasia, a Dubai-based artificial intelligence-led fintech company listed on the Johannesburg Stock Exchange, has secured more than $300 million in syndicated refinancing aimed at strengthening its funding base and giving the company greater room to expand its operations across emerging markets.

The package includes an upsizing of $180 million in term facilities and $150 million in bank guarantees, backed by a group of lenders led by Standard Bank, Africa’s largest bank by assets. Standard Bank and Rand Merchant Bank acted as joint lead arrangers and underwriters, underscoring continued lender appetite for technology-driven financial services firms operating across Africa and other emerging markets.

Standard Bank backs fintech refinancing

Standard Bank said the financing reflects its support for scalable, data-driven companies expanding into new markets while maintaining access to long-term funding. Jameel Nagdee, executive vice president for structured capital at Standard Bank Corporate and Investment Banking, said flexible, long-term capital has become central to sustaining growth in the fintech sector. He added that the deal aligns with the bank’s broader focus on building more inclusive financial systems supported by digital infrastructure.

The refinancing comes at a time when Africa’s fintech sector continues to draw investor attention. A report by BDO projects that the continent’s fintech market, led by South Africa, Nigeria, Egypt, and Kenya, could reach $65 billion by 2030, driven by rising mobile penetration and demand for alternative credit services.

Optasia expands access for unbanked users

Optasia, formerly known as Channel VAS, listed on the JSE in November. The company provides short-term credit and airtime financing through mobile networks and digital platforms, targeting consumers who are often outside traditional banking systems. It currently operates in 38 countries and processes more than 34 million transactions each day.

Its platform relies on mobile usage data and other digital signals to assess creditworthiness and deliver small loans within minutes. That model has helped the company scale quickly across multiple regions. Optasia reported revenue of $265 million in 2025, a 76 percent increase from the previous year, along with higher earnings and an expanding customer base.

Optasia tops $1.5 billion after deals

Since its listing, Optasia has attracted increased investor interest, supported by recent corporate activity. Its market cap on the JSE has climbed above $1.5 billion following the acquisition of Finergi Global FZCO for $30 million. The deal expanded Optasia’s prepaid electricity credit services, allowing consumers to access short-term advances linked to future top-ups.

Investor interest has continued to build. FirstRand recently increased its stake in Optasia, purchasing an additional 6 percent holding worth R1.48 billion ($86.3 million), lifting its total shareholding to 26.1 percent. The move further deepens ties between the South African lender and the fintech group as it expands its footprint across Africa’s digital financial services market.