Hi there,
My name is Abdulhamid, and as the CEO and Founder of Mono, I’m grateful to share a defining milestone in our journey: Mono has entered into a definitive agreement to join Flutterwave, following majority approval from its shareholders and board.
This acquisition is not just a milestone for our company; it's a strategic move to accelerate our shared vision. By combining Flutterwave's scale and network with Mono’s pioneering technology, we are poised to deliver the most sophisticated and comprehensive financial stack for SMEs, Enterprises, and Developers across Africa.
Mono will continue to operate as an independent entity, there will be no disruption to our service for our partners and end-users across our product suite. In fact, you can expect more innovation, deeper infrastructure, and scale.
Why Flutterwave?
Prakhar and I founded Mono with a simple goal: to provide infrastructure that lets African businesses, with consent, connect to customers’ financial accounts, move money via direct bank payment, and build innovative products on top of bank account linking. That mission has remained the same, even as our scale and ambition have grown.
From our first conversations with the Flutterwave team, we were deeply impressed by their ambition. We quickly found that we had much more in common than just our largest customers and investors. We shared a nearly identical vision for the future of financial infrastructure, as well as a strong alignment around values like talent density, urgency, and craft.
An acquisition was not on our radar. Mono’s growth curve, product, and team are stronger than ever, and the future of open banking has never been more exciting. This decision was not driven by necessity, but by conviction.
Flutterwave has built one of the most trusted and widely used payments platforms on the continent, powering millions of transactions for businesses of all sizes. They understand scale, reliability, and what it takes to operate critical financial infrastructure across markets. Mono brings open banking rails, deep financial data access, and infrastructure that enables smarter financial products.
We chose to join forces with Flutterwave because of the opportunity to create something phenomenal together: a more complete financial operating system for African businesses. Together, we can go deeper, move faster, and serve developers and businesses at scale.
Here's a note from Flutterwave about how important this acquisition is to both our teams and the possibilities ahead.
What’s Next: Accelerating Innovation
For Customers: Look forward to greater robustness and scale across our core data and identity products, new offerings for alternative payment methods, and an enhanced lending stack.
Next Year's Vision: We will leverage Flutterwave’s extensive network to introduce deeper and broader connections with financial institutions across Africa. Our goal is to make open banking a true reality, establishing consent-based verification, payment, and trust as the new standard across the continent.
We have ambitious plans, and we are accelerating the execution of our product roadmap. We recently launched Prove, one of our most forward-thinking products designed to solve critical challenges in the fintech ecosystem, and we are already seeing fantastic adoption. You can expect us to double down on building more transformative products that solve real-world problems for you, our customers.
Acknowledgements
I want to extend my deepest gratitude to everyone who has been part of the Mono story over the last five years:
My Co-founder, Prakhar: Thank you for your exceptional brilliance and unwavering dedication. From building this alongside me across 7,000 miles to helping lead a new generation of financial infrastructure, your impact has been foundational to Mono’s success.
The Entire Mono Team: Thank you for your talent, commitment, and tireless effort. This journey would not have been possible without your belief in the mission and the standard of excellence you bring every day.
Our Investors: Including Y Combinator, Tiger Global and Entrée Capital, for your unwavering support throughout this journey.
Above all, our customers: Thank you for your support, valuable feedback, and trust in our product.
In partnership with Flutterwave, we are excited to continue powering the next generation of transformative financial services.
The transaction was advised by Goodwin Procter LLP, an American multinational law firm, and Rachna Shah of External General Counsel, who supported the company throughout the process. Completion of the transaction is pending standard closing conditions, including regulatory approvals for the company's regulated entities.
