Stitch, a fast-rising African payments infrastructure company, has announced the successful close of its $50 million Series B funding round. The round drew participation from notable investors including Glynn Capital, Flourish Ventures, and Norrsken22, with existing backers such as Ribbit Capital, PayPal Ventures, The Raba Partnership, and Firstminute Capital also reaffirming their confidence in the startup.
Launched in February 2021, Stitch has now raised a total of $107 million to date. The company has quickly carved out a strong presence in South Africa’s digital payments space, providing seamless, secure, and scalable payment solutions for large enterprises such as Takealot, Mr. D, MTN, Vodacom, Standard Bank’s Shyft, TFG’s Bash, Hollywoodbets, Luno, and The Courier Guy.
With the latest investment, Stitch aims to significantly grow its in-person payments capabilities, deepen its position in online payments, and enter the acquiring market—an important move that will allow it to offer end-to-end card payment services to clients. This will give businesses greater control over their transaction processes and customer experiences.
Earlier this year, Stitch began its push into in-person payments with the acquisition of Dutch payments company ExiPay. This move marked a strategic step in creating a unified platform for both online and offline transactions.
Additionally, Stitch is preparing to roll out “Express,” a streamlined checkout solution tailored for e-commerce merchants operating on platforms like Shopify and WooCommerce. Set to launch in early 2025, Express is expected to simplify payments for businesses of all sizes.
As Stitch continues to expand across the continent, its mission remains focused on transforming the African payments landscape by building infrastructure that makes it easier for businesses to accept, manage, and innovate around payments—regardless of channel or platform.
