AI-driven financial technology company Optasia, based in Dubai, has announced plans to go public on the Johannesburg Stock Exchange (JSE) with an aim to raise up to USD 375 million. The funds will come from a combination of new and existing shares, as stated in a recent company press release.
About USD 75.7 million is expected to be raised through an initial public offering, while the remaining USD 291 million will be sourced via a private placement involving current shareholders. Optasia, which partly belongs to Ethos Capital, believes this move will bolster its financial position and facilitate broader financial inclusion efforts in developing markets.
Enlarging access to financial services
Optasia provides AI-powered financial services like micro-lending and airtime credit to those who do not have easy access to traditional banking facilities. The company serves over 38 countries and has approximately 121 million monthly active users, managing more than 32 million loan transactions daily.
According to Optasia representatives, listing on the JSE is anticipated to boost the firm’s regional growth plans and improve its appeal to institutional investors. They stated that their technology allows mobile operators and financial institutions to provide credit services to unbanked and underbanked individuals in developing regions.
Founded in 2012, Optasia operates primarily in Africa, the Middle East, and Asia. It collaborates with several major telecommunications companies such as MTN, Vodacom, and Airtel for distributing its services.
