South African fintech firm Stitch has raised an additional $55 million to deepen its expansion efforts and strengthen its presence across the continent’s fast-evolving payments sector. This fresh investment follows its previous $46 million in venture capital, further underscoring investor confidence in its vision.
The latest round includes a $4.2 million contribution from African venture firm Raba Partnership, reinforcing their continued support for Stitch’s growth strategy.
Founded in 2019 and headquartered in Cape Town, Stitch was established by three entrepreneurs and has positioned itself as a leading provider of unified payment solutions. Its platform allows businesses to manage transactions seamlessly across different financial institutions, simplifying integration and enabling a wide range of payment options. This functionality not only enhances customer experience but also boosts operational efficiency for companies.
Since its inception, Stitch has consistently attracted funding to fuel its growth. It began with $4 million in seed funding in early 2021, followed by a $2 million seed extension later that year to support its Nigerian expansion. In 2022, it secured a $21 million Series A round led by The Spruce House Partnership, with backing from PayPal Ventures and others. This was extended in 2023 with a $25 million injection led by Ribbit Capital, bringing its Series A total to $46 million.
In January 2025, Stitch marked a significant milestone with the acquisition of Exipay, a payment solution provider. This move allowed it to enter the in-person payments space and led to the launch of “Stitch In-Person Payments,” targeting large enterprises handling face-to-face transactions.
As Stitch broadens its product range and footprint, its role in transforming Africa’s financial landscape continues to grow. With its focus on innovation and accessibility, Stitch is helping shape the future of payments on the continent by addressing long-standing challenges and unlocking new opportunities in digital
finance.
