Optasia, an AI-powered financial technology platform, has announced plans to list on the Johannesburg Stock Exchange (JSE), in what is set to be the country’s largest tech public offering of the year. The move is a significant step for the company, which specializes in providing financial services to underserved populations in emerging markets.
The listing involves a dual objective: Optasia aims to raise approximately R1.3 billion ($75 million) in new capital to fund its expansion and potential acquisitions. Simultaneously, existing shareholders plan to sell a stake worth at least R5.0 billion ($300 million), bringing the total offering size to over $375 million. The company itself will not receive proceeds from the sale by existing shareholders.
What Does Optasia Do?
At its core, Optasia is a B2B2C fintech that acts as the tech engine for mobile network operators (MNOs) and financial institutions. Its AI platform analyzes vast amounts of data — over 100,000 data points per customer — to make instant credit decisions for two main products:
- Airtime Credit Solutions (ACS): Small, instant loans that allow mobile users to borrow airtime and data.
- Micro Financing Solutions (MFS): Larger, but still small-ticket, cash loans for individuals and small businesses.
This model allows partners like MTN and Airtel to offer financial products to their customer base without developing the complex technology in-house. Optasia operates behind the scenes, processing over 32 million loan transactions daily. Since 2016, it has distributed approximately $23 billion in credit.
The company has built a significant global footprint, operating in 38 countries with a potential reach of over 860 million consumers through its partners. It currently serves around 121 million active users each month. Optasia has demonstrated strong financial health, reporting revenues of $117.2 million and an adjusted EBITDA of $53.8 million for the first half of 2025.
A Much-Needed Boost for the JSE?
The announcement comes at a critical time for the Johannesburg Stock Exchange, which has been battling a wave of delistings, particularly in its technology sector.
Over the past two decades, the number of companies on the JSE has dwindled from over 450 to around 300. The tech segment has been hit particularly hard, with firms like MiX Telematics, Cognition Holdings, and TeleMasters all exiting the exchange in 2024. This trend has raised concerns among investors about the long-term viability of South Africa’s public markets for tech companies.
While the JSE saw its largest IPO since 2017 with the successful listing of discount supermarket chain Boxer Retail in late 2024, which raised R8.5 billion, the tech sector has been starved of new, high-quality listings. Optasia’s IPO will be closely watched as a bellwether for investor appetite in a market that desperately needs a modern growth story.
The Growth Strategy
Optasia’s leadership sees the public listing as a catalyst for its next phase of growth. “Today marks an important milestone for Optasia as we take a crucial step towards becoming a publicly listed company,” said CEO Salvador Anglada. “An IPO will allow us to accelerate our growth, raise our visibility as a leading global fintech and continue innovating to expand financial opportunity where it is needed most.”
The company’s strategy is focused on three pillars:
- Powerful Core: Expanding its services and customer base within its existing 38 markets.
- Future Forge: Developing and launching new financial products beyond its current credit offerings.
- Borderless Ambition: Entering new, high-growth countries where financial inclusion is low but mobile penetration is high.
With a profitable and geographically diverse business model, Optasia is betting that its proven track record and the vast, untapped market for financial services in emerging economies will convince public investors to back its next chapter.