Africa’s largest fintech company, Flutterwave, has acquired Nigerian open banking startup Mono in an all-stock deal valued between $25 million and $40 million, according to people familiar with the transaction.
The acquisition brings together two of Africa’s leading fintech infrastructure companies. Flutterwave operates one of the continent’s widest payments networks, while Mono, often described as the “Plaid for Africa,” has built APIs that allow businesses to access bank data, initiate payments, and verify customers.
