Stitch's $55 Million Leap: A Game Changer for Payments in Africa
April 16, 2025, 10:15 pm
Location: South Africa, Western Cape, Cape Town
Employees: 51-200
Founded date: 2019
Total raised: $50M
In the bustling heart of Cape Town, a financial revolution is brewing. Stitch, a payments infrastructure company, has just secured $55 million in Series B funding. This is not just a number; it’s a statement. A declaration that the future of payments in Africa is bright and promising.
Founded in 2020, Stitch has quickly carved a niche in the competitive fintech landscape. The company’s mission is clear: to connect businesses to the financial system seamlessly. Think of it as a bridge, linking merchants to their customers with ease and efficiency. The latest funding round, led by prominent investors like QED Investors and Glynn Capital, brings Stitch’s total funding to a staggering $107 million. This is a significant milestone, underscoring the confidence investors have in Stitch’s vision.
The funds will be used to deepen and expand Stitch’s offerings. The company aims to enhance its in-person payments solutions and venture into the acquiring space. This is crucial. As more businesses shift to digital, the demand for flexible payment solutions grows. Stitch is poised to meet this demand head-on.
Stitch’s platform is a powerhouse. It supports a variety of payment methods, from online transactions to in-person payments at points of sale. It’s like a Swiss Army knife for payments, equipped to handle diverse needs. Businesses can choose from card payments, bank transfers, and even mobile wallets like Apple Pay and Google Pay. This flexibility is vital in a rapidly evolving market.
Fraud prevention is another cornerstone of Stitch’s offering. With its Shield product, the company ensures that transactions are secure. In a world where cyber threats loom large, this feature is a lifeline for businesses. Stitch’s commitment to security builds trust, a crucial element in the financial sector.
Customer service is another area where Stitch shines. The company offers 24/7 support, ensuring that businesses can resolve issues swiftly. This level of service is rare in the fintech space and sets Stitch apart from its competitors. It’s not just about providing a service; it’s about building relationships.
Stitch’s clientele reads like a who’s who of South African business. From e-commerce giants like Takealot to telecommunications leaders like MTN and Vodacom, the company serves a diverse range of industries. This broad customer base not only validates Stitch’s offerings but also positions it as a leader in the African fintech landscape.
The recent acquisition of ExiPay is a strategic move that will bolster Stitch’s in-person payment capabilities. This acquisition is more than just a business deal; it’s a step towards creating a comprehensive payment ecosystem. By integrating ExiPay’s technology, Stitch can offer even more robust solutions to its clients.
The company’s focus on expanding its online payment suite is equally important. With the rise of e-commerce, businesses need reliable and efficient payment solutions. Stitch’s Express product, launched in early 2025, simplifies the checkout process for online businesses. It’s designed for e-commerce platforms like Shopify and WooCommerce, making it accessible for businesses of all sizes. This is a game changer for small and medium enterprises looking to thrive in the digital age.
As Stitch continues to grow, its impact on the African fintech landscape will be profound. The company is not just a player; it’s a pioneer. By providing innovative solutions, Stitch is helping to shape the future of payments in Africa. The continent is ripe for disruption, and Stitch is at the forefront of this change.
The fintech landscape in Africa is evolving rapidly. With a young, tech-savvy population and increasing internet penetration, the potential for growth is immense. Stitch is well-positioned to capitalize on this trend. The company’s focus on flexibility and customization makes it an attractive partner for businesses looking to adapt to changing consumer preferences.
Investors are taking notice. The participation of well-known venture capital firms in Stitch’s funding round signals a growing interest in African fintech. This influx of capital will not only fuel Stitch’s growth but also inspire other startups in the region. It’s a ripple effect that could lead to a flourishing ecosystem of innovation.
In conclusion, Stitch’s $55 million funding round is more than just a financial boost; it’s a catalyst for change. The company is redefining payments in Africa, offering solutions that are secure, flexible, and customer-centric. As it expands its offerings and strengthens its position in the market, Stitch is set to become a cornerstone of the African fintech landscape. The future is bright, and Stitch is leading the charge.
Founded in 2020, Stitch has quickly carved a niche in the competitive fintech landscape. The company’s mission is clear: to connect businesses to the financial system seamlessly. Think of it as a bridge, linking merchants to their customers with ease and efficiency. The latest funding round, led by prominent investors like QED Investors and Glynn Capital, brings Stitch’s total funding to a staggering $107 million. This is a significant milestone, underscoring the confidence investors have in Stitch’s vision.
The funds will be used to deepen and expand Stitch’s offerings. The company aims to enhance its in-person payments solutions and venture into the acquiring space. This is crucial. As more businesses shift to digital, the demand for flexible payment solutions grows. Stitch is poised to meet this demand head-on.
Stitch’s platform is a powerhouse. It supports a variety of payment methods, from online transactions to in-person payments at points of sale. It’s like a Swiss Army knife for payments, equipped to handle diverse needs. Businesses can choose from card payments, bank transfers, and even mobile wallets like Apple Pay and Google Pay. This flexibility is vital in a rapidly evolving market.
Fraud prevention is another cornerstone of Stitch’s offering. With its Shield product, the company ensures that transactions are secure. In a world where cyber threats loom large, this feature is a lifeline for businesses. Stitch’s commitment to security builds trust, a crucial element in the financial sector.
Customer service is another area where Stitch shines. The company offers 24/7 support, ensuring that businesses can resolve issues swiftly. This level of service is rare in the fintech space and sets Stitch apart from its competitors. It’s not just about providing a service; it’s about building relationships.
Stitch’s clientele reads like a who’s who of South African business. From e-commerce giants like Takealot to telecommunications leaders like MTN and Vodacom, the company serves a diverse range of industries. This broad customer base not only validates Stitch’s offerings but also positions it as a leader in the African fintech landscape.
The recent acquisition of ExiPay is a strategic move that will bolster Stitch’s in-person payment capabilities. This acquisition is more than just a business deal; it’s a step towards creating a comprehensive payment ecosystem. By integrating ExiPay’s technology, Stitch can offer even more robust solutions to its clients.
The company’s focus on expanding its online payment suite is equally important. With the rise of e-commerce, businesses need reliable and efficient payment solutions. Stitch’s Express product, launched in early 2025, simplifies the checkout process for online businesses. It’s designed for e-commerce platforms like Shopify and WooCommerce, making it accessible for businesses of all sizes. This is a game changer for small and medium enterprises looking to thrive in the digital age.
As Stitch continues to grow, its impact on the African fintech landscape will be profound. The company is not just a player; it’s a pioneer. By providing innovative solutions, Stitch is helping to shape the future of payments in Africa. The continent is ripe for disruption, and Stitch is at the forefront of this change.
The fintech landscape in Africa is evolving rapidly. With a young, tech-savvy population and increasing internet penetration, the potential for growth is immense. Stitch is well-positioned to capitalize on this trend. The company’s focus on flexibility and customization makes it an attractive partner for businesses looking to adapt to changing consumer preferences.
Investors are taking notice. The participation of well-known venture capital firms in Stitch’s funding round signals a growing interest in African fintech. This influx of capital will not only fuel Stitch’s growth but also inspire other startups in the region. It’s a ripple effect that could lead to a flourishing ecosystem of innovation.
In conclusion, Stitch’s $55 million funding round is more than just a financial boost; it’s a catalyst for change. The company is redefining payments in Africa, offering solutions that are secure, flexible, and customer-centric. As it expands its offerings and strengthens its position in the market, Stitch is set to become a cornerstone of the African fintech landscape. The future is bright, and Stitch is leading the charge.