tech

January 8, 2026

Flutterwave 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 buys Nigeria's Mono in rare African fintech exit

TL;DR

  • Flutterwave acquired Mono in an all-stock deal valued between $25 million and $40 million.
  • Mono provides APIs for businesses to access bank data, initiate payments, and verify customers, often referred to as the 'Plaid for Africa'.
  • The acquisition allows Flutterwave to deepen its vertical integration, offering services beyond payments, including onboarding, identity checks, and risk assessment.
  • Mono's infrastructure is used by nearly all Nigerian digital lenders and has powered over 8 million bank account linkages.
  • The deal is seen as a bet on Africa's next phase of fintech growth, focusing on the importance of integrated payments, data, and trust.
  • Mono will continue to operate as an independent product.
  • This transaction signals a trend of consolidation in African fintech, with startups integrating into scaled platforms.

Continue reading
the original article

Made withNostr