Fintech Wrap Up on Instagram: "Daily Fintech Rundown (06/01) - Featuring Flutterwave, Mono, JPMorganChase & Airwallex Africa’s largest fintech company, Flutterwave, has acquired Nigerian open banking startup Mono in an all-stock deal valued between $25 million and $40 million. The acquisition allowed Mono's investors to at least recoup their capital, with some early backers seeing paper returns of up to 20x based on the implied valuation of the stock they received. For Flutterwave, the deal deep

African merchants can’t scale on fragmented integrations. In the AFTSLIVE session Why Flutterwave Acquired Mono and What It Means for African Commerce, Gabriel Ologunwa explained a core bottleneck: many merchants are forced to integrate separately with payments, KYC, banking, and credit providers, a model that’s costly and unsustainable at scale. The Mono acquisition addresses this by using open banking APIs as a single connectivity layer, making digital banking infrastructure usable across serv