Africa: Flutterwave Acquires Mono in Deal Reportedly Valued Up to $40m

Flutterwave has acquired Nigerian open banking startup Mono in an all-stock transaction valued between $25 million and $40 million, according to people familiar with the deal.

The acquisition brings together two fintech infrastructure companies operating at scale in Africa. Flutterwave runs one of the continent’s largest payments networks, while Mono provides APIs that allow businesses to access bank data, verify customers, and initiate payments.

Founded in 2020, Mono enables users to consent to…