Stitch Secures $55 Million Series B to Enhance Payments Infrastructure

South Africa-based payments infrastructure company Stitch announced a $55 million Series B funding round with major contributions from QED Investors, Glynn Capital, Flourish Ventures, and Norrsken22. This latest funding round will enable Stitch to expand their in-person payments offering, enter the acquiring space, and enhance their online payments platform, meeting a wider range of needs for enterprise merchants. Since launching in February 2021, Stitch has established itself as a leader in payment solutions, recognized for its strong fraud prevention functionality, flexibility, and comprehensive customer support. The inclusion of new investors adds substantial global investment power and fintech expertise to Stitch's portfolio, assuring continued growth and market expansion. Stitch's forthcoming move into acquiring further positions it as a comprehensive payments partner for businesses internationally and particularly in Africa. The company has grown its funding to $107 million in total, broadening its influence in the payments sector. The round includes participation from numerous investors, including Ribbit Capital, PayPal Ventures, and high-profile angels, demonstrating confidence in Stitch's business model and growth trajectory.