South African fintech company Stitch has secured an additional US$55 million in funding to further develop its end-to-end payment solutions for businesses across the African continent.
The funding aims to strengthen Stitch’s position in Africa’s fast-evolving payments sector.
According to Techpoint Africa, African venture capital firm Raba Partnership contributed US$4.2 million to the round, reflecting its continued confidence in Stitch’s growth trajectory.
Founded in 2019 by Kiaan Pillay, Natalie Cuthbert, and Priyen Pillay, and headquartered in Cape Town, Stitch provides a unified payments platform that enables businesses to manage transactions across various financial institutions.
By simplifying integration, the platform allows companies to offer a range of payment options, improving both customer experience and operational efficiency.
Stitch has a consistent history of raising capital to support its expansion.
In February 2021, the company secured US$4 million in seed funding, followed by a US$2 million seed extension in October 2021, which facilitated its move into the Nigerian market.
A US$21 million Series A funding round was announced in February 2022, led by The Spruce House Partnership with backing from PayPal Ventures and other investors.
This was followed by a US$25 million Series A extension in October 2023, led by Ribbit Capital, bringing the total Series A funding to US$46 million.
In January 2025, Stitch acquired Exipay, a provider of payment solutions, marking its entry into the in-person payments space.
The acquisition resulted in the rebranding of Exipay’s platform as “Stitch In-Person Payments”, aimed at supporting large enterprises handling in-person transactions.
Featured image credit: Stitch
