“Mono acquisition value is way higher than what we have raised” — Abdulhamid Hassan, Mono CEO
- Flutterwave acquires Mono in a multi-million-dollar deal, enhancing its fintech capabilities.
- The acquisition was structured as an all-stock deal, with details undisclosed but valued higher than Mono's previous $17.5 million funding.
- Mono, founded in 2019, provides APIs for businesses to access bank data and initiate payments.
The acquisition of Mono by Flutterwave represents a strategic move in the African fintech landscape, showcasing the potential for growth through consolidation. This trend could lead to more robust financial products and services, but it also raises questions about competition and innovation in the sector. Further discussions could explore how such acquisitions impact smaller startups and the overall market dynamics.
