Flutterwave has acquired Nigerian open banking startup Mono in an all-stock deal valued between $25m and $40m, one of the rare fintech exits we’ve seen on the continent in recent years.

Mono powers the data Nigerian lenders use to understand income, spending, and creditworthiness. Today, almost every digital lender depends on its infrastructure.

This deal means Flutterwave can now offer payments, bank verification, identity checks, risk assessment, and direct bank payments, all in one stack.

For Mono’s investors, it’s a solid outcome in a tough funding climate. For Africa’s fintech space, it’s a signal that the next phase isn’t about more startups doing everything; it’s about stronger platforms coming together.

As open banking regulations evolve and credit-led financial inclusion expands, this kind of consolidation could become more common.

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