Staff Writer
FirstRand Limited has acquired a 20.1% stake in Channel VAS Investments Limited, trading as Optasia, one of the world’s largest artificial intelligence-driven fintech platforms serving emerging markets.
The deal comes as Optasia prepares for its initial public offering and marks a strategic move by FirstRand to expand its reach in digital financial services and financial inclusion.
Optasia operates in 38 countries across Africa, the Middle East, and Asia, providing financial access to millions of underbanked and unbanked consumers.
Using mobile data and AI, the company enables microloans and digital financial products at scale, allowing consumers to access credit through their mobile devices.
FirstRand said the partnership supports its strategy to grow its retail and business banking presence, particularly through First National Bank, in South Africa and across its broader African markets.
“Optasia’s ability to pre-score customers, process microloans at scale, and use mobile data sales as a credit collection mechanism is highly innovative and meets the needs of millions,” FirstRand said.
The bank added that Optasia’s technology and data-driven model offer strong growth potential in new markets, product development, and funding solutions.
The transaction, advised by Rand Merchant Bank, was disclosed as a voluntary announcement and is not classified as a categorised transaction under the JSE Listings Requirements.
Optasia has also announced plans to list on the main board of the Johannesburg Stock Exchange as part of its strategy to expand access to digital financial services across emerging markets.
Incorporated in the British Virgin Islands, Optasia is among the world’s largest and fastest-growing AI-powered fintech platforms, providing instant microloans and airtime credit to millions of underbanked consumers in Africa, the Middle East, Asia, and Europe.
The company plans a primary issuance of about N$1.3 billion (US$75 million) to fund expansion and acquisitions, along with a secondary share sale of at least N$5.0 billion (US$300 million) by existing shareholders.
The total offering is expected to reach around US$375 million, subject to market conditions and JSE approval.
Chief executive officer Salvador Anglada said the planned IPO marks a key milestone for the company.
“From a single-country operation to one of the world’s largest fintechs of its kind, we’ve built a profitable, capital-light business that continues with purpose to scale,” Anglada said.
“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.”
Caption
FirstRand has invested in AI company, Optasia.
