Stitch, a South Africa-based payments infrastructure company, has successfully announced a $55 million Series B funding round led by global investment firm QED Investors. This latest funding will enable Stitch to deepen and expand its in-person payments offerings, venture into the acquiring space, and further enhance its online payments suite to better serve enterprise merchants across a variety of payment needs. This round brings the total funding raised by Stitch to $107 million over four years.
The Series B funding round includes participation from several notable investors, such as Glynn Capital, Flourish Ventures, and Norrsken22, alongside existing backers like Ribbit Capital, PayPal Ventures, Firstminute Capital, and angel investor Trevor Noah. This influx of global investment capital enhances Stitch's already robust backing, positioning the company for aggressive expansion.
“We’re super excited and proud to be where we are in the market today,” the Stitch team stated. “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. Expanding our offering now feels especially timely as we aim to further serve our clients.”
Since emerging from stealth mode in February 2021, Stitch has garnered significant attention and growth in the fintech landscape, driven by the team's deep understanding of the payment needs of enterprise merchants. The platform is known not only for its accessibility to local online payment methods and in-person transactions but also for its robust suite of additional features, including:
- Fraud Prevention: Powered by its award-winning Shield product.
- Flexibility and Customisation: Tailored solutions for enterprise businesses.
- Client Support Services: Including technical assistance and integration support.
- 24/7 Customer Assistance: Available around the clock.
- Automated Routing and Built-in Redundancies: Enhanced conversion rates and reliability.
"Having closely followed the Stitch team over the past four years, it’s been impressive to witness their rapid growth and execution in becoming a trusted payment provider," remarked Gbenga Ajayi, Partner and Head of Africa and the Middle East at QED Investors. "Stitch has consistently delivered world-class payment solutions that empower global merchants with seamless, reliable, and innovative transactions."
The company is currently focused on expanding its in-person payments solution, officially launched with the acquisition of ExiPay in 2025, and is poised to add acquiring services to its offerings. Stitch aims to provide a true omnichannel payment platform that allows multi-lane retailers, telecommunications companies, and other businesses to modernize both their in-store and online payment experiences.
With the upcoming move into acquiring, Stitch will enable its clients to benefit from an end-to-end card product, gaining full control over the lifecycle of the product.
Stitch serves a wide range of leading enterprise customers in South Africa, including notable names such as Takealot, Mr. D, MTN, Vodacom, Standard Bank’s Shyft, TFG’s Bash, Hollywoodbets, Luno, The Courier Guy, and many more. Its solution includes a comprehensive suite of payment methods—spanning card payments, pay by bank, Apple Pay, Google Pay, Samsung Pay, Capitec Pay, Absa Pay, Nedbank Direct EFT, manual EFT, cash, and DebiCheck—designed specifically for enterprise-level business needs.
Additionally, in early 2025, Stitch launched Express, a simplified checkout solution tailored for online businesses of all sizes that utilize e-commerce platforms such as Shopify and WooCommerce. This launch is part of Stitch’s vision to create a holistic and versatile payment solution for modern enterprises.
With previous funding rounds comprising $4 million in seed funding, $6 million in extended seed funding, $21 million in Series A funding, and $25 million in extended Series A funding, Stitch has successfully raised $107 million in total funding to date—demonstrating its upward trajectory and commitment to innovation within the payments sector.
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