SAN FRANCISCO, Jan. 5, 2026 — Flutterwave, Africa’s top payments technology firm, has acquired Mono, a trailblazer in open banking infrastructure across the continent. This deal strengthens Flutterwave’s long-standing commitment to building a connected, interoperable financial system for Africa and positions open banking as a core pillar in the evolution of alternative payment methods across the region.
Mono’s API-powered platform enables secure access to financial data, identity verification, and account-to-account payments—capabilities that are increasingly critical as African markets shift toward more trusted, data-led financial services. Under the acquisition terms, Mono will continue operating independently, with no changes to its leadership structure, team, or day-to-day operations. Flutterwave’s stake fosters strategic alignment rather than operational control, allowing Mono to maintain its innovation pace while contributing its open banking infrastructure to Flutterwave’s broader payments ecosystem.
The acquisition reflects a growing recognition that Africa’s next phase of payments growth will be driven less by card rails and more by bank-based, authenticated, and locally relevant payment methods. By integrating Mono’s open banking APIs, Flutterwave enhances its ability to support faster onboarding, improved verification, reduced fraud, and seamless account-to-account payments. The collaboration also creates a clear pathway to expand into richer alternative payment methods, authenticated payment flows, and over time, open banking-enabled stablecoin use cases.
It also carries implications beyond product expansion. Businesses gain access to infrastructure that simplifies compliance-heavy processes like identity checks and bank verification, while improving conversion and reliability at scale. Developers and partners benefit from a unified environment where payments and financial data coexist, reducing complexity and accelerating time to market. The integration deepens Flutterwave’s vertical expertise, reinforcing long-term value creation through stronger margins, deeper platform stickiness, and differentiated infrastructure. Regulatory stakeholders benefit from increased standardization, stronger data protection, and adherence to global security frameworks including PCI-DSS and ISO 27001.
Commenting on the acquisition, Olugbenga ‘GB’ Agboola, Founder and CEO of Flutterwave, said, “This acquisition mirrors our vision for Africa’s future financial infrastructure. Payments, data, and trust cannot exist in silos. Open banking provides the connective tissue, and Mono has built critical infrastructure in this space. This deal allows us to expand what’s possible for businesses operating across African markets, while staying grounded in security, compliance, and local relevance.”
Adding to this, Abdulhamid Hassan, Founder and CEO of Mono, said, “We founded Mono to unlock Africa’s open banking potential, and since our first partnership with Flutterwave in 2021 and collaboration over the years, we’ve seen the power of a coordinated effort toward this goal. Mono’s capabilities in 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.”
At a time when Africa’s digital economy demands infrastructure that is open by design and built for trust, the investment signals a deliberate move toward systems that are interoperable, data-driven, and designed to support long-term growth across the continent.
The transaction was advised by Nichole Yembra, Founder and Managing Partner at The Chrysalis Advisors Africa, who supported the parties through strategic positioning and execution.
About Flutterwave
Flutterwave is a leading payments technology company that enables businesses worldwide to expand into Africa and other emerging markets via a platform supporting local and cross-border transactions through a single API (Application Programming Interface). It has processed over 1 billion transactions totaling more than USD $40 billion, serving global and African clients like Uber, Air Peace, Bamboo, PiggyVest, and others across diverse industries. The company’s core strength lies in connecting businesses to a range of local and international payment methods to facilitate global expansion. Its remittance solution, Send App by Flutterwave, also enables cross-border transfers from the diaspora to African countries. Flutterwave processes payments via multiple modes, including local and international cards, mobile wallets, bank transfers, and Google Pay. The firm’s infrastructure spans 34 African countries. For more information on Flutterwave’s journey, please visit .
About Mono
Mono is a leading open banking infrastructure provider that empowers African businesses to develop data-driven financial services. Through its APIs and no-code offerings, Mono enables customers to access aggregated customer-permissioned financial data, verify identity and account ownership, initiate payments, and build innovative financial products. It connects to over 50 banks reaching more than 8 million bank customers across African countries. Founded in Lagos in 2020, Mono serves some of Africa’s most innovative financial services businesses and over a thousand additional clients. Mono’s vision is to power Africa’s internet economy through open banking. For more information, visit .
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