Stitch Raises $55M Series B to Expand Payments and Enter Acquiring Market
The investment will fuel the company’s efforts to deepen its in-person payments offering, enter the acquiring space, and enhance its online payments suite.
South African fintech startup Stitch has raised $55 million in a Series B funding round led by QED Investors. The investment will fuel the company’s efforts to deepen its in-person payments offering, enter the acquiring space, and enhance its online payments suite—positioning it to better serve enterprise merchants with end-to-end solutions.
The latest round brings Stitch’s total funding to $107 million in just four years. Joining QED Investors in this round are global heavyweights Flourish Ventures, Norrsken22, and Glynn Capital. They build on the company’s existing strong investor base, which includes Ribbit Capital, PayPal Ventures, Firstminute Capital, and notable angel investor 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. 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.
– Statement from the Stitch Team
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. 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.
– Gbenga Ajayi, Partner and Head of Africa and the Middle East, QED Investors
The announcement by Stitch mentioned that the team is focused on expanding the In-person payments solution, launched with acquisition of ExiPay in 2025 , and will soon add acquiring to the services list.
