A prominent investment firm that was an early backer of Mono, involved in venture capital and private equity.
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.
Flutterwave CEO Open to Acquisition, But Focused on Profitability
Flutterwave's CEO stated the company is open to a potential acquisition. The company is focused on achieving profitability this year.
YC-backed Bamboo expands to Canada with remittance product
Bamboo expands to Canada after securing Money Service Business licence. Launch of remittance payment service, Coins by Bamboo.
Africa B2B Startups Wasoko and MaxAB Officially Complete Merger
African B2B e-commerce startups Wasoko and MaxAB have completed the continent’s largest-ever tech merger. The merged entity becomes a multi-vertical ecosystem for Africa’s informal retail sector.
Next Wave: How investor activity changed after 2022
A surge in startup funding in Africa's tech ecosystem in 2021 fueled by foreign capital and a low-interest rate environment. Major investors like Tiger Global and SoftBank pulled back due to rising interest rates and geopolitical tensions.
