STITCH ANNOUNCES $55 MILLION SERIES B FUNDING ROUND TO BOLSTER END-TO-END ENTERPRISE PAYMENTS INFRASTRUCTURE OFFERING
The round was led by global investment firms QED Investors, Glynn Capital, Flourish Ventures and Norrsken22, with participation from existing funders Ribbit Capital, PayPal Ventures, The Raba Partnership and Firstminute Capital
CAPE TOWN, South Africa, 15 April, 2025 - South Africa-based payments infrastructure company Stitch has announced a $55 million Series B funding round led by QED Investors, enabling the fast-growing team to deepen and expand its in-person payments offering, move into the acquiring space and further bolster its online payments suite, to better serve enterprise merchants across all payments needs. This round brings its total funding to $107 million in four years.
The round will add significant global investment power –including QED Investors, Flourish Ventures, Norrsken22 and Glynn Capital – to the firm’s already expansive list of backers, including Ribbit Capital, PayPal Ventures, Firstminute Capital and angels such as Trevor Noah.
"We're super excited and proud to be where we are in the market today. We feel we've earned the right to work with clients across the board – not just for online or in-person payments, but with any money movement needs,” said the Stitch team. “It felt like the right time to more aggressively expand our offering so we can further serve our clients.
We've been fortunate to know all the new investors in the round for many years, and they all come with an impressive amount of fintech experience, including support in scaling similar businesses in other markets."
Stitch has seen impressive growth since emerging from stealth in February 2021, standing out thanks to the team’s deep understanding of the payments needs and requirements for enterprise merchants. Beyond access to all local online payment methods and in-person payments, the Stitch platform is also known for:
● Fraud prevention, with its award-winning Shield product
● Flexibility and customisation for enterprise merchants
● Client services, including technical and integration support
● 24/7 customer support
● Built-in redundancies and automated routing to improve conversion and reliability
"Having closely followed the Stitch team over the past four years, it's been impressive to watch their rapid growth and execution in becoming a trusted payment provider,” said QED Investors Partner and Head of Africa and the Middle East Gbenga Ajayi. “Stitch has consistently delivered world-class payment solutions, empowering global merchants with seamless, reliable and innovative experiences. Their ongoing expansion from a PSP to a comprehensive payments partner, including robust in-person payments and acquiring solutions, demonstrates their unique ability to anticipate market needs and execute at scale. At QED Investors, we’re thrilled to partner with such visionary founders, confident that Stitch will continue to set new standards in the payments industry across Africa and beyond."
Today, the team is focused on expanding its In-person payments solution, launched with acquisition of ExiPay in 2025, and will soon add acquiring to its services list. Stitch offers a true omnichannel payment platform, allowing multi-lane retailers, telcos and other omni-channel businesses to modernize their in-store and online payment experiences. The upcoming move into acquiring means that Stitch will be able to offer its clients an end-to-end card product with full control over the whole product lifecycle.
Stitch serves some of the leading enterprise businesses in South Africa across payments needs, including Takealot, Mr. D, MTN, Vodacom, Standard Bank’s Shyft, TFG’s Bash, Hollywoodbets, Luno, The Courier Guy and many more.
The solution includes a full suite of end-to-end payments solutions and methods – including card, Pay by bank, Apple Pay, Google Pay, Samsung Pay, Capitec Pay, Absa Pay, Nedbank Direct EFT, manual EFT, cash, DebiCheck, 24/7, 365 payouts, In-person payments and more – designed specifically for enterprise businesses. It also launched Express, a simple checkout solution designed for online businesses of all sizes that leverage e-commerce platforms such as Shopify and Woo, in early 2025.
Stitch emerged from stealth in February 2021 and has raised $107 million in total funding to date.
For further inquiries, contact thea@stitch.money.
ABOUT STITCH
Stitch is a payments infrastructure company that helps businesses seamlessly connect to the financial system, so they can deliver a better user experience and optimize operations. Headquartered in Cape Town, South Africa, Stitch launched in February 2021 and has global staff. Stitch offers all popular online payment methods as a Payments Service Provider, as well as in-person payments at POS. Its platform supports a variety of pay-in methods and solutions; financial and payment management solutions; and Payouts. Learn more at https://www.stitch.money/.