Flutterwave Scoops Up Mono For Open Banking

🔗 Meet Mono

Mono is an open banking gateway that connects African consumers' financial data to digital apps.
Acquired by Flutterwave for $25M-40M in a landmark deal range for the region.
Before this exit, Mono was backed by big names like Tiger Global, Entrée Capital, and Y Combinator.

Right now, many financial institutions in Africa work in silos, making it hard for customers to share data between different apps. This fragmentation makes it tough for people to access credit or use personalized financial tools.
Mono fixes this by using a single API that lets businesses verify identities and access bank statements instantly.
Their Creditworthiness API is a fintech tool designed to instantly assess a borrower's ability to repay a loan.

The company has already expanded into Ghana and South Africa, handling millions of data pings for over 500 banks, fintechs, and businesses.
Joining forces with Flutterwave, their reliability will make them a go-to infrastructure provider for the continent's growing digital economy.

This acquisition folds Mono’s tech into Flutterwave’s global payment network, speeding up the rollout of bank-to-bank payments across Africa.
Together, they plan to strengthen real-time credit scoring to millions of underserved users.