US EditionFlutterwave acquires Mono to advance Open Banking and Account-to-Account payment across Africa
Flutterwave's $25-$40 million acquisition of Mono integrates APIs for onboarding, identity checks, and bank payments to advance Africa's open banking and fintech infrastructure.
- This year, Flutterwave, Africa's largest fintech company, acquired Mono, Nigerian open banking startup, in an all-stock deal valued between $25 million and $40 million, with Mono continuing to operate independently.
- Following years of collaboration between the companies, Abdulhamid Hassan, Founder and CEO of Mono, said the deal grew from prior partnerships and reflects a strategic shift toward bank-based, authenticated payments as open banking matures across African markets.
- Investors have backed Mono with about $17.5 million in funding, and the company claims to have powered more than 8 million bank account linkages and delivered 100 billion financial data points.
- For Flutterwave, the deal deepens vertical integration across more than 30 African countries and strengthens onboarding, identity verification, fraud reduction, and account-to-account payments.
- The deal echoes a wider consolidation trend in African fintech, signaling startups may integrate into scaled platforms and enabling richer payment methods with Flutterwave and Mono.
22 Articles
22 Articles
Pan-African fintech Flutterwave buys Nigerian open-banking startup Mono in deal valued up to $40mn
Flutterwave has acquired Nigerian open-banking startup Mono in an all-stock deal valued, boosting its move into bank-based payments, data and identity infrastructure as open banking gains traction across Africa.
Flutterwave acquires Mono to advance Open Banking and Account-to-Account payment across Africa
Flutterwave, Africa’s leading payments technology company, has acquired Mono, a pioneer in open banking infrastructure across the continent. The transaction deepens Flutterwave’s long-term commitment to building a connected, interoperable financial system for Africa and positions open banking as a core pillar in the evolution of alternative payment methods across the region. Mono’s API-driven platform enables secure access to financial data, ide…
TechCrunch
New Movies & TV Shows, Trailers & ReviewsFlutterwave buys Nigeria's Mono in rare African fintech exit
Africa’s largest fintech company, Flutterwave, has acquired Nigerian open banking startup Mono in an all-stock deal.
Flutterwave, a major player in payment infrastructure in Africa, buys Mono, a Nigerian specialist in access to banking data. A strategic operation that aims to consolidate the sector as well as to strengthen the control of financial information in the face of OPay and PalmPay super-applications.
Flutterwave moves to control financial data layer with Mono acquisition
Since its inception in 2016, Flutterwave has built its business on helping African merchants accept cross-border payments, largely by connecting card networks and local processors. Now, Africa’s most valuable startup wants to control the financial data layer behind those transactions, and it has acquired open banking startup Mono to do it. The all-stock transaction, valued between $25 million and $40 million, represents a significant consolidati…
The Nigerian fintech Mono, which specializes in open banking, was purchased by the start-up Flutterwave for an estimated $40 million. This transaction marks an important step in the structuring of the African digital financial services market. The start-up Flutterwave formalized, on Monday, January 5, 2026, the acquisition of Mono, a start-up founded in Lagos in 2020 and becoming an important player in open banking in Nigeria. The operation, val…
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