The $55 million in a Series B funding round brings the South African payment startup to a total funding of $107 million within just four years.
Anonymous
Stitch raises $55 million Series B funding
Stitch has secured a new funding to expand its in-person payment offerings, improve its online payment suite, and facilitate its entry into card acquiring in South Africa. The company, which was co-founded in 2021 by Kiaan Pillay, Junaid Dadan, and Matthew Flannery, has secured $107 million in total fundings since inception. The latest investment, $55 million in a Series B round, will be utilized to the company's in-person payment offerings, enhance its online payment suite, and facilitate its entry into card acquiring. The round was led by QED Investors, with participation from Norrsken22, Flourish Ventures, Glynn Capital, and notable angel investors, including comedian Trevor Noah. Existing investors like Ribbit Capital, PayPal Ventures, Firstminute Capital, and The Raba Partnership also participated in the $55 million series B funding round. This funding round signifies Stitch's commitment to scaling its operations and solidifying its position in the African fintech landscape…
