South African Stitch Secures $55M To Expand End-to-End Payment

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Published by Stephen Oluwadara at April 17, 2025

Stitch is Simplifying Payments in Africa

Founded in 2019 by Kiaan Pillay, Natalie Cuthbert, and Priyen Pillay, Stitch offers a unified payments platform that enables businesses to manage transactions seamlessly across multiple financial institutions. By simplifying the integration process, Stitch enables companies to offer diverse payment options, improving customer experience and operational efficiency.

The fintech offers a true omnichannel payment platform, allowing multi-lane retailers, telcos and other omnichannel businesses to modernise their in-store and online payment experiences. The upcoming move into acquiring means that we can offer our clients an end-to-end card product with full control over the whole product lifecycle.

“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 Stitch in a press release seen by UrbanGeekz. “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.”

With the acquisition of Exipay earlier this year , fintech expanded into physical payment solutions, a strategic move to serve corporate clients requiring hybrid digital and cashless transaction systems.

Though the deal’s value remains undisclosed, it allows Stitch to offer end-to-end payment services, targeting industries like retail and hospitality. By integrating Exipay’s infrastructure, Stitch aims to reduce reliance on third-party processors, promising faster settlement times and improved reliability.

An Investment To Fuel More Growth

Stitch has built a strong track record in securing investments to fuel its growth. In February 2021, the company secured $4 million in seed funding, followed by a $2 million seed extension in October 2021 to support its expansion into Nigeria.

Furthermore, in February 2022, the Cape Town-based startup announced a $21 million Series A funding round led by The Spruce House Partnership, with participation from PayPal Ventures and other notable investors. In October 2023, the company again secured a $25 million Series A extension led by Ribbit Capital, bringing its total Series A funding to $46 million. Its clients include major African enterprises such as MTN, MultiChoice, and Standard Bank’s SnapScan.

“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, and we are confident that Stitch will continue to set new standards in the payments industry across Africa and beyond.”

The company is focused on deepening its presence in South Africa and selectively expanding into other high-potential markets. “The goal is to build the rails that power Africa’s digital economy,” Pillay said.

Main Image: Stitch Team. Image Source: Stitch