Overview
- Both companies confirmed the acquisition and said Mono will continue to operate independently with no leadership or day-to-day changes.
- People familiar with the transaction reported an all-stock deal valued between $25 million and $40 million, with some early investors said to have realized up to 20x returns.
- Flutterwave plans to integrate Mono’s bank-data access, identity verification, and account-to-account payment APIs to enhance onboarding, fraud reduction, and risk assessment.
- Mono says it connects to over 50 banks and has powered more than 8 million account linkages, while Flutterwave runs one of Africa’s largest payments networks in 30-plus countries.
- Executives cast the move as part of a broader consolidation in African fintech as companies combine payment rails with data infrastructure to support credit-led services and regulatory confidence.