Flutterwave, Africa’s leading payments tech company, has acquired Mono, a pioneer in open banking infrastructure, in a deal valued between $25 million and $40 million. This acquisition deepens Flutterwave’s commitment to building a connected financial system for Africa, positioning open banking as a core pillar in alternative payment methods.
Mono’s API-driven platform enables secure access to financial data, identity verification, and account-to-account payments, capabilities increasingly critical as African markets shift to trusted, data-led financial services.
The acquisition reflects a growing recognition that Africa’s payments growth will be driven by bank-based, authenticated payment methods rather than card rails. By integrating Mono’s open banking APIs, Flutterwave strengthens its ability to support faster onboarding, improved verification, reduced fraud, and seamless account-to-account payments.
Mono will continue to operate independently, maintaining its leadership structure, team, and day-to-day operations.
This move signals a deliberate shift towards interoperable, data-driven systems designed for long-term growth across Africa. Would you like to know more about Flutterwave’s expansion plans or Mono’s open banking infrastructure?
