Flutterwave Acquires Open Banking Startup Mono
- Flutterwave has acquired Mono, a Nigerian open banking startup, in an all-stock deal valued between $25 million and $40 million.
- The acquisition signifies a major consolidation phase in African fintech, combining Flutterwave's payment network with Mono's data aggregation capabilities.
- Mono, known as the 'Plaid for Africa', provides APIs for businesses to access bank data and facilitate direct payments.
IT News Africa - Jan 6, 2026
Flutterwave Acquires Mono to Advance Open Banking and Account-to-Account Payment
Flutterwave has acquired Mono, a leader in open banking infrastructure in Africa, allowing Mono to o
The acquisition of Mono by Flutterwave is a strategic move that not only strengthens Flutterwave's position in the African fintech market but also highlights the growing trend of consolidation in the industry. This could lead to more robust financial services and innovation across the continent, but it also raises questions about competition and the future of smaller fintech startups.
