FirstRand lifted its stake to 26.1% in late March. Now Standard Bank has led a $330-million debt refinancing.
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FirstRand has deepened its bet on AI fintech Optasia, spending R1.48-billion to lift its stake to 26.1%.
Optasia sees formal banking as a massive growth opportunity as microfinancing overtakes its airtime advance business.
JSE-listed fintech Optasia has smashed its listing guidance, with revenue up 76% and users climbing 43% to 432 million.
Optasia will list on the JSE at a valuation of R23.5-billion following the closing of its bookbuilding exercise.
FirstRand Group has committed R4.7-billion to buy 20.1% of soon-to-be-listed multinational fintech Optasia.
Optasia’s plans to list on the JSE could see the company valued at up to R23.5-billion in its public market debut.
Optasia, backed by former banker Michael Jordaan, plans a JSE listing to fund expansion across emerging markets.