Flutterwave Mono Acquisition 2026: Consolidation Hits Africa's Fintech Infrastructure
Flutterwave has acquired Nigerian open banking startup Mono in a deal valued up to $40M. Learn how the Flutterwave Mono acquisition 2026 will reshape African fintech.
Payments and data are no longer silos in the African tech ecosystem. Flutterwave, the continent's most valuable fintech firm, has acquired Nigerian open banking pioneer Mono in an all-stock deal. The transaction signals a major shift toward vertical integration as the market moves from simple payments to complex, data-driven financial services.
Flutterwave Mono Acquisition 2026: The Strategic $40 Million Deal
According to sources familiar with the matter, the deal is valued between $25 million and $40 million. For Mono, often dubbed the "Plaid for Africa," the exit provides a significant win for early backers like Tiger Global and General Catalyst, with some realizing returns of up to 20x.
Since its founding in 2020, Mono has built a formidable presence, powering over 8 million bank account linkages. Its infrastructure is the backbone for nearly all digital lenders in Nigeria, processing 100 billion financial data points to date. By acquiring Mono, Flutterwave adds critical onboarding, identity verification, and risk assessment tools to its massive payment stack.
Building Africa's Credit-Driven Future
"Payments, data, and trust cannot exist in silos," stated Olugbenga 'GB' Agboola, CEO of Flutterwave. He framed the acquisition as a bet on Africa's next growth phase, where open banking provides the "connective tissue" for the entire financial sector.
Mono CEO Abdulhamid Hassan noted that as African economies become more credit-driven, deep data intelligence is paramount. "You need to know how people earn and spend," he said. By joining forces, the two companies can now offer a unified experience for businesses operating across more than 30 African countries.
This content is AI-generated based on source articles. While we strive for accuracy, errors may occur. We recommend verifying with the original source.
Related Articles
Chinese humanoid robot maker UBTech is acquiring component maker Zhejiang Fenglong for $237M to secure its supply chain. The move signals a shift in the robotics race from AI to manufacturing at scale.
Enterprise software giant ServiceNow is acquiring cybersecurity startup Armis for $7.75 billion in cash, a move that shelves Armis's IPO plans and signals ServiceNow's aggressive platform strategy.
ServiceNow announces a $7.75 billion cash deal to acquire cybersecurity startup Armis, aiming to build an AI-powered security platform and capitalize on the growing need to protect enterprises from sophisticated AI threats.
Japanese AC giant Daikin Industries acquires two US tech companies in 2025, entering the competitive AI data center cooling market to address growing power and water constraints.
Chinese humanoid robot maker UBTech is acquiring component maker Zhejiang Fenglong for $237M to secure its supply chain. The move signals a shift in the robotics race from AI to manufacturing at scale.
Enterprise software giant ServiceNow is acquiring cybersecurity startup Armis for $7.75 billion in cash, a move that shelves Armis's IPO plans and signals ServiceNow's aggressive platform strategy.
ServiceNow announces a $7.75 billion cash deal to acquire cybersecurity startup Armis, aiming to build an AI-powered security platform and capitalize on the growing need to protect enterprises from sophisticated AI threats.
Japanese AC giant Daikin Industries acquires two US tech companies in 2025, entering the competitive AI data center cooling market to address growing power and water constraints.