Stitch obtains USD 55 million in funding round

Following a USD 46 million venture capital investment, the current funding aims to solidify and scale Stitch’s position in Africa’s evolving payment landscape. This funding round included participation from Raba Partnership, an African venture firm, which contributed USD 4.2 million, highlighting the company’s confidence in Stitch’s capabilities and solutions.

Improving the African payment landscape

As part of its offering, Stitch provides a unified payment platform that helps businesses manage transactions across various financial institutions. By improving the integration process, the fintech enables a variety of payment options, thereby optimising customer experience and operational efficiency.

In addition to this funding and the venture capital, Stitch raised USD 25 million in a Series A extension funding round in October 2023. At that time, the fintech company planned to use the capital to accelerate its development while also designing a client-friendly infrastructure and a secure and efficient suite of solutions that can improve the creation of effective financial experiences.

By advancing its operations and scaling its reach, Stitch seeks to support the African payment ecosystem, with the company planning to serve the needs, demands, and preferences of its users while also meeting regulatory requirements.

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