Stitch Secures $55M to Advance African Payment Innovation
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South African fintech powerhouse, Stitch, has successfully raised USD 55 million in its latest funding round, reinforcing its ambition to transform the African payments landscape through seamless and scalable financial technology solutions.
The round follows a USD 46 million venture capital investment and includes a USD 4.2 million contribution from African-focused investment firm Raba Partnership, signalling strong investor confidence in Stitch’s growth trajectory and its strategic value in the regional fintech ecosystem.
Empowering Business Payments Across Africa
Stitch’s core product is a unified payment platform designed to simplify and streamline business transactions across multiple financial institutions. With a focus on deep integration and enhanced user experience, the company aims to empower enterprises with versatile, secure, and efficient payment options that drive customer satisfaction and operational excellence.
This funding comes on the heels of a USD 25 million Series A extension completed in October 2023. At the time, Stitch outlined plans to invest in infrastructure development and deliver a robust suite of tools for developers and businesses, fostering more reliable and innovative financial experiences.
Scaling for Growth and Compliance
With its expanded capital base, Stitch plans to further scale operations, deepen its product capabilities, and solidify its footprint across Africa. The company is focused on delivering user-centric, regulation-compliant solutions that meet the evolving demands of Africa’s digitally connected consumers and businesses.
As fintech continues to reshape Africa’s economic future, Stitch’s latest funding milestone highlights the sector’s momentum and the growing appetite for next-generation payment solutions.
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