Mono

Mono is a Lagos-based open banking infrastructure company that provides APIs enabling businesses to access customers' bank data with consent, verify customer identity, initiate payments and assess financial behaviour. Its product set spans three areas: financial data (Connect for real-time financial data, Statement Pages for no-code bank statements, Data Enrichment for granular insights, and Creditworthiness for credit eligibility checks); payments (DirectPay for one-time bank payments, DirectDebit for recurring bank payments, Global Standing Mandate/Global Standing Orders, and Disburse for outbound payments); and identity verification (Lookup for government-issued ID verification and Prove for customer identity verification).

The company positions these products around use cases including KYC and customer onboarding, credit risk assessment, payment collection and personal finance insights, and it publishes developer documentation, API references and SDKs alongside a pricing page and self-serve signup. Press coverage describes Mono as "the Plaid for Africa" and reports that its consent-based bank data access has become core infrastructure for Nigeria's digital lending ecosystem, where limited credit bureau coverage leads lenders to rely on bank transaction histories to assess income, spending patterns and repayment capacity.

In January 2026, Flutterwave acquired Mono in an all-stock transaction reported at $25 million to $40 million. Mono is to continue operating as an independent product while being integrated into Flutterwave's platform.

Founding story

Mono was founded in 2020; Abdulhamid Hassan serves as CEO and Prakhar Singh as CTO [5][7].

Business model

Mono sells API-based infrastructure to businesses, primarily financial institutions and fintechs, covering financial data access, payment initiation and identity verification. The company publishes a public pricing page and offers self-serve signup and developer documentation alongside enterprise sales motions such as demo requests [0][1].

Sources indicate paid API products with a published pricing page; specific pricing or revenue figures are not disclosed in the material [0][1].

Traction

Company-reported figures cited in press coverage: more than 8 million bank account linkages, covering roughly 12 percent of Nigeria's banked population; over 100 billion financial data points delivered to lenders; and millions of dollars in direct bank payments processed. Customers include Moniepoint and PalmPay, and the CEO stated the company was on track toward profitability in the year of the acquisition. StartupList Africa lists the company at 11-50 employees [5][7].

Latest developments

On 5 January 2026, BusinessDay reported that Flutterwave had acquired Mono in an all-stock deal valued between $25 million and $40 million, adding open banking to Flutterwave's payments stack while Mono continues as an independent product. CEO Abdulhamid Hassan said the company was not forced into a sale, citing strong cash reserves and a path toward profitability, and said joining Flutterwave positions Mono to scale as regulatory barriers ease [5].