Flutterwave has acquired Mono, one of Africa’s leading open banking infrastructure providers.
Mono provides API-driven access to financial data, identity verification and account-to-account payments. It will continue to operate independently following the transaction. There will be no changes to Mono’s leadership, team, or day-to-day operations, allowing the company to maintain its innovation velocity while aligning strategically with Flutterwave’s broader payments platform.
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 across multiple markets.
The integration also opens the door to richer alternative payment methods and, over time, open banking–enabled stablecoin use cases.
Developers and partners benefit from a more unified environment where payments and financial data coexist, reducing integration complexity and accelerating time to market. F
Commenting on the acquisition, Flutterwave Founder and CEO Olugbenga “GB” Agboola said the deal reflects how financial infrastructure must evolve on the continent. He said, “Payments, data, and trust cannot exist in silos. Open banking provides the connective tissue, and Mono has built critical infrastructure in this space. This acquisition allows us to expand what’s possible for businesses operating across African markets, while staying grounded in security, compliance, and local relevance.”
Mono Founder and CEO Abdulhamid Hassan noted that the acquisition builds on an existing partnership between the two companies that began in 2021. “Mono’s capabilities across financial data access, direct bank payments, and identity verification, combined with Flutterwave’s unmatched scale and global reach, create something more defensible and comprehensive. This acquisition allows us to build the infrastructure layer that powers the next generation of African fintech at the speed and scale the continent deserves,” he said.
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