Flutterwave acquires Mono for $30 million in all-stock deal. Here is some backstory.
- Flutterwave announced its acquisition of Mono in an all-stock deal valued at $30 million.
- The acquisition aims to enhance financial infrastructure in Africa through open banking.
- Mono will continue to operate independently, maintaining its leadership structure and operations.
The acquisition of Mono by Flutterwave represents a strategic move to consolidate financial services in Africa, yet the mixed reactions from investors highlight the complexities of startup valuations in a volatile market. It raises questions about the long-term benefits for stakeholders and the potential for future liquidity events.
