Flutterwave, Africas leading payments technology company, has acquired Mono, a pioneer in open banking infrastructure across the continent. The transaction deepens Flutterwaves long-term 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.
Flutterwave Expands Payments Infrastructure With Acquisition of Open Banking Firm MonoMonos API-driven platform enables secure access to financial data, identity verification, and account-to-account payments capabilities that are increasingly critical as African markets move toward more trusted, data-led financial services. Under the terms of the acquisition, Mono will continue to operate independently, with no changes to its leadership structure, team, or day-to-day operations. Flutterwaves stake enables strategic alignment rather than operational control, allowing Mono to maintain its pace of innovation while contributing its open banking infrastructure to Flutterwaves broader payments ecosystem.
The acquisition reflects a growing recognition that the next phase of Africas payments growth will be driven less by card rails and more by bank-based, authenticated, and locally relevant payment methods. By integrating Monos open banking APIs, Flutterwave strengthens its ability to support faster onboarding, improved verification, reduced fraud, and seamless account-to-account payments. The collaboration also creates a clear pathway for expanding into richer alternative payment methods, authenticated payment flows, and, over time, open banking-enabled stablecoin use cases.
