What does Stitch do?
Stitch is a payments infrastructure company that enables businesses to connect to the financial system. It offers a comprehensive platform that provides online payment methods, in-person POS solutions, financial management tools, and payout services to ensure a seamless user experience for its clients.
How much did they raise?
The company raised $55M in Series B funding, led by QED Investors, Glynn Capital, Flourish Ventures, and Norrsken22, with participation from Ribbit Capital, PayPal Ventures, The Raba Partnership, and Firstminute Capital. This round contributes to a total of $107M raised to date.
What are their plans for the money?
Stitch plans to use the funds to expand its operations and accelerate its development efforts, further enhancing its platform and potentially driving broader financial inclusion by streamlining payment processes for businesses in South Africa.
What have they achieved so far?
The company has already established strong market credibility by partnering with notable clients such as Takealot, Mr. D, MTN, Vodacom, Standard Bank’s Shyft, and others, proving its capacity to deliver effective payment solutions.
