AI-powered fintech company Optasia plans to raise $365 million by selling shares in South Africa and using the proceeds to acquire new companies amid growing demand for digital financial services, Bloomberg reported.
The Dubai-based firm — which operates in 38 countries, mostly in Africa, Asia, and the Middle East — uses AI to assess creditworthiness in order to offer microloans and cash advances to underbanked customers. It operates through mobile partners, including MTN and Vodacom, with Nigeria and South Africa among its largest markets.
Around 1.3 billion adults globally don’t have a bank account, the World Bank’s Global Findex 2025 survey found. Fintech companies have expanded in recent years to reach unbanked people who could access digital financial services via a mobile phone. Optasia, which processes more than 30 million credit decisions daily, has about 120 million active users.