Fintech Stitch Raises $55 Million to Expand Payment Solutions for African Businesses

South African fintech company Stitch has successfully secured an additional $55 million in funding, earmarked for enhancing its comprehensive payment solutions offered to businesses across the African continent. This significant investment underscores the growing demand for advanced financial technologies in the region and strengthens Stitch’s position within Africa’s dynamic payments landscape.

Among the investors participating in this latest round is the African venture firm Raba Partnership, which contributed $4.2 million, signaling strong confidence in Stitch’s platform and pan-African vision. The funding highlights increasing investor interest in the continent’s burgeoning fintech sector.

Founded in 2019 and headquartered in Cape Town, Stitch provides a unified payments platform designed to simplify how businesses manage transactions across various financial institutions. By streamlining integration, Stitch helps companies offer diverse payment options, improving both customer experience and operational efficiency.

This $55 million injection follows a series of successful funding rounds that have fueled Stitch’s expansion, including its entry into Nigeria. The company previously raised $6 million in seed funding (2021) and a substantial $46 million Series A round completed through initial funding ($21M led by The Spruce House Partnership, Feb 2022) and an extension ($25M led by Ribbit Capital, Oct 2023). Prominent investors like PayPal Ventures have also backed the company.

Strategically broadening its services, Stitch acquired payment solution provider Exipay in January 2025. This acquisition enabled Stitch’s entry into the physical payments market through the newly rebranded “Stitch In-Person Payments” platform, specifically targeting large enterprises handling face-to-face transactions.

With this latest funding, Stitch is poised to further accelerate its innovation and expansion. The company’s growth exemplifies the transformative potential of fintech in addressing Africa’s unique financial challenges and opportunities, contributing to a more inclusive and efficient financial ecosystem across the continent.