OpenPayd Targets Nasdaq IPO by Year-End to Fund US Expansion and Acquisitions

The Quick Take

• Payments firm OpenPayd targets a year-end Nasdaq IPO to fund US expansion and acquisitions, with US launch planned for April 2027
• CEO Iana Dimitrova says OpenPayd is eyeing deals to add payment licenses and technology capabilities ahead of the listing
• The Nasdaq listing would provide OpenPayd capital to compete in the US payments market against established players like Stripe and Adyen

OpenPayd, a B2B payments infrastructure firm, is targeting a Nasdaq listing by year-end 2026 to raise capital for its US market entry—planned for April 2027—and technology-driven acquisitions. CEO Iana Dimitrova confirmed the firm is in active discussions to acquire licenses and technical assets that would accelerate its US rollout. OpenPayd operates primarily in Europe and emerging markets, offering account infrastructure and cross-border payment rails to fintechs, crypto exchanges, and financial services companies.

The Nasdaq listing strategy reflects a calculated bet that US public markets, which trade at premium multiples to European counterparts for payments infrastructure businesses, will provide a higher valuation floor for OpenPayd than a London or Amsterdam listing. Precedents like Adyen's Amsterdam listing and Wise's London dual-class listing demonstrate that payments firms can achieve significant valuations outside US markets, but the US institutional investor base for fintech infrastructure is uniquely deep. The acquisition strategy to add licenses signals OpenPayd is prioritising speed-to-market in the US over organic licensing—a path that typically takes 12-18 months per state money transmitter license.

Key signals to watch include the filing of an S-1 registration statement with the SEC, which would disclose OpenPayd's revenue, EBITDA margin, and customer concentration ahead of the IPO. The macro variable is Fed rate policy and risk appetite for fintech IPOs—the 2024-2025 IPO window reopened after rate stabilisation, and a sustained risk-on environment would support a premium valuation for OpenPayd. Competitor Stripe's private valuation trajectory and any IPO signals from that company will also benchmark investor expectations for OpenPayd's public debut.

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