South Africa-based payments infrastructure company Stitch has announced the successful close of a $55 million Series B funding round, marking a significant milestone in its mission to build Africa’s leading end-to-end payments platform. The new capital will fuel Stitch’s expansion into in-person payments, acquiring services, and further enhancement of its robust online payments suite.
Founded in February 2021, Stitch provides powerful APIs and payment tools that enable businesses to scale faster and operate more efficiently. Its technology simplifies the complexity of integrating with the financial ecosystem, allowing companies across various sectors to offer seamless payment experiences to their users.
This latest funding round—led by QED Investors—brings Stitch’s total funding to $107 million in just four years. It also includes participation from notable new investors such as Flourish Ventures, Norrsken22, and Glynn Capital. The company previously raised a $25 million Series A extension in 2023.
A major focus of the new funding is to accelerate Stitch’s in-person payments capabilities, building on the recent acquisition of point-of-sale provider ExiPay. The company is also set to launch acquiring services, enabling it to offer businesses a comprehensive card product with end-to-end lifecycle control. This positions Stitch as a true omnichannel payments partner, supporting both online and offline transactions for clients such as multi-lane retailers, telcos, and digitally integrated businesses.
“We’re incredibly excited about what this next phase means for Stitch,” said the team in a statement. “We’ve worked hard to become a trusted partner for clients across the board—whether they’re processing payments online or in-store, or managing broader money movement needs. With this new investment, we’re doubling down on our commitment to deliver exceptional, future-ready payment solutions across Africa.”
Gbenga Ajayi, Partner and Head of Africa and the Middle East at QED Investors, praised Stitch’s trajectory and leadership in Africa’s fintech space:
“Stitch has consistently delivered world-class payment solutions, empowering global merchants with seamless, reliable, and innovative experiences. Their transition from a traditional PSP to a holistic payments infrastructure provider—with strong in-person capabilities and acquiring services—shows a deep understanding of the market and the ability to execute at scale. We’re proud to back such visionary founders and look forward to supporting their continued growth across Africa and beyond.”
As Stitch moves forward, it aims to deepen its presence in existing markets, introduce new product verticals, and solidify its position as Africa’s go-to partner for modern, flexible, and scalable payment solutions.
