Hi, welcome to Tech This Evening, an After-Work Tech Newsletter from Techparley Africa. Sure, there is a lot to unpack right now. Sit back, while I walk you through.
Top Story: Flutterwave Acquires Nigerian Open Banking Startup, Mono, in $25–40 Million All-Stock Deal
Flutterwave, Africa’s largest payments company, has acquired Nigerian open banking startup, Mono, in an all-stock transaction valued between $25 million and $40 million, bringing two critical layers of fintech infrastructure under one roof.
The acquisition comes at a pivotal moment for the continent’s financial technology sector, as regulation, scale, and survival increasingly define success.
Sources familiar with the deal say Mono’s investors will at least recover their capital, while some early backers have realised returns of up to 20 times. Mono will continue to operate as a standalone product.
Flutterwave’s Chief Executive, Olugbenga ‘GB’ Agboola, describes the deal as a long-term play on how African finance will work.
“Payments, data, and trust cannot exist in silos,” he said. “Open banking provides the connective tissue, and Mono has built critical infrastructure in this space. This allows us to expand what’s possible for businesses operating across African markets while staying grounded in security, compliance, and local relevance.”
Other Tech News Stories You Should Read:
Algeria’s Condor Group Launches Operations in Egypt, Eyes Local Manufacturing and Regional Expansion. Read now.
Investa Farm: This Kenyan Startup is Using Stablecoins to Provide Credit Access to Smallholder Farmers in Africa. Read now.
Founders First: How Smart Founder Agreements and Equity Splits Can Make or Break a Startup. Read now.
On Startup Spotlight:
LakiPay Launches LakiRemit to Reduce Transfer Costs, Speed Up Cross-Border Payments, and Support Africa’s Online Creators
Ethiopian payment startup, LakiPay Financial Technologies S.C. has launched a new digital remittance platform aimed at reducing transfer costs, speeding up cross-border payments, and supporting Ethiopia’s fast-growing online creator economy.
LakiPay says the platform, called LakiRemit, offers real-time international transfers, competitive exchange rates, and direct integration with Ethiopian and regional banks. The startup received its payment operator licence from the National Bank of Ethiopia (NBE) last year and has been operating for just over a year.
According to LakiPay’s Chief Executive Officer, Habtamu Tadesse, Ethiopian content producers can lose up to 50 per cent of their earnings to platform fees and payment processing costs charged by platforms like TikTok. He assured that creators can retain up to 95 per cent of the value sent by their supporters by registering on LakiRemit.
“The money will be deposited into a local bank account within 30 seconds,” Habtamu stated, describing what he called a crucial advancement for artists who depend on regular, low-value transfers.
Quadri Adejumo brings you all the details. Read here.
Also Read:
Clea Launches Blockchain-Powered USD Payment Platform to Ease Cross-Border Trade for Nigerian Importers. Yakub Abdulrasheed brings us the details, here.
Quote of the Day:
“Any sufficiently advanced technology is equivalent to magic.” – Arthur C. Clarke.
Thank you for joining me yet again this evening. Stay safe, and see you tomorrow for the next tech newsletter.
Best, Quadri
