Flutterwave has acquired Mono, an open banking and financial data infrastructure provider in Africa, for an undisclosed sum.

The Africa-focused payments technology company will integrate Mono’s open banking APIs into its platform to support account-to-account payments, identity verification and secure access to financial data.

As agreed, Mono will continue to operate as an independent company following the acquisition. Its leadership, team structure and day-to-day operations will remain unchanged, with Flutterwave taking a strategic stake rather than assuming operational control.

By adding Mono’s infrastructure, Flutterwave plans to expand its support for bank-based and authenticated payment methods across key African markets.

The integration is expected to enhance capabilities such as faster customer onboarding, automated verification, reduced fraud risk and streamlined account-to-account transactions. It also provides a pathway for future products in alternative payment methods, authenticated payment flows and open banking-enabled stablecoin use cases.

For businesses, the combined offering is designed to simplify compliance-focused workflows, including identity checks and bank account validation, while aiming to improve conversion rates and reliability at scale. Developers and partners will gain access to a unified environment where payments and financial data are accessible via a single infrastructure layer, which can reduce integration complexity and shorten deployment timelines.

Flutterwave founder and CEO Olugbenga ‘GB’ Agboola said: “This acquisition reflects how we think about the future of financial infrastructure in Africa. Payments, data, and trust cannot exist in silos.

“Open banking provides the connective tissue, and Mono has built critical infrastructure in this space. This acquisition allows us to expand what’s possible for businesses operating across African markets, while staying grounded in security, compliance, and local relevance.”