Transaction Summary
South Africa–based payments‑infrastructure firm Stitch Money Proprietary Limited (Stitch) has closed a $55 million Series B led by U.S. fintech specialist QED Investors. New investors Norrsken22, Trevor Noah, Glynn Capital and Flourish Ventures joined the round, while existing backers Ribbit Capital (which led Stitch’s 2024 Series A extension), PayPal Ventures, firstminute Capital and The Raba Partnership (which contributed $4.2 million to this round) also re-invested. The raise takes Stitch’s total funding to ~$107 million in just four years. Founded in 2019 and headquartered in Cape Town, Stitch provides open‑banking and payments APIs that simplify transactions for large African enterprises. This Series B financing is intended for three priorities: (1) scaling in‑person payments, (2) strengthening its online payments suite, and (3) entering the card‑acquiring market. The first pillar will accelerate integration of ExiPay, the point‑of‑sale payments startup Stitch acquired in January 2025, enabling the rollout of “Stitch In‑Person Payments” for omnichannel
