Optasia secures more than $300m in syndicated refinancing

JSE-listed fintech Optasia has secured further support from the banking industry as Standard Bank announces a joint underwrite and participation in the syndicated refinancing and upsizing of its term facilities of $180 million (the equivalent of nearly R3 billion) and bank guarantees of $150 million (about R2.5 billion).

Standard Bank, Africa’s largest bank by assets, confirmed in a statement on Friday that it acted as a joint lead arranger and underwriter for the facilities. Rand Merchant Bank is the other lead arranger and underwriter, while several of the big banks are also part of the facility pool.

Through this syndication, Standard Bank says it worked with the JSE-listed AI‑led fintech company to enhance funding certainty, expand capacity and provide long‑term flexibility.

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“The solution supports Optasia’s accelerated growth trajectory, enabling the business to continue expanding its platform and footprint while maintaining the agility required of a data‑driven, technology‑led organisation,” says Jameel Nagdee, executive vice president for structured capital at Standard Bank Corporate and Investment Banking.

The lender says access to flexible, long‑term capital has become a defining factor in sustaining the growth momentum as Africa’s fintech sector continues to grow and scale.

Nagdee adds partnering with Optasia at this stage of its growth journey is part of the bank’s agenda to build a more inclusive, resilient and digitally enabled financial ecosystem.

According to BDO’s report on Fintechs in Africa, the continent’s Fintech market led by South Africa, Nigeria, Egypt, and Kenya is projected to grow to $65 billion in 2030.

“We are optimistic about the future of Optasia and look forward to its next thrilling stage of expansion,” says Salvador Anglada, CEO of Optasia.

The fintech business (previously Channel VAS) listed on the JSE in November. It provides credit and airtime financing solutions through mobile networks and digital platforms, targeting underbanked consumers across emerging markets. It operates in 38 countries and processes more than 34 million transactions daily.

Optasia’s market cap currently sits above R24 billion, with shares trading at R19.99 (12pm).

Last month, FirstRand increased its stake in the company, bringing its shareholding up to 26.1%.

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