Stitch announces $55 million series B funding round

The round was led by global investment firms QED Investors, Glynn Capital, Flourish Ventures and Norrsken22, with participation from existing funders Ribbit Capital, PayPal Ventures, The Raba Partnership and Firstminute Capital

Gbenga Ajayi. Photo: qedinvestors.com. Portal ERP South Africa. 

South African payments infrastructure company Stitch has secured $55 million in a Series B funding round led by QED Investors, bringing its total funding to $107 million since launching four years ago. The company plans to use the capital to accelerate the growth of its in-person payments offering, expand into the acquiring space, and strengthen its suite of online payment solutions, positioning itself as a full-service partner for enterprise merchants.

The round drew participation from several notable global investors, including Flourish Ventures, Norrsken22, and Glynn Capital, joining Stitch’s existing backers such as Ribbit Capital, PayPal Ventures, and Firstminute Capital. Angel investors include South African comedian and entrepreneur Trevor Noah.

“We’ve earned the right to work with clients across all payment channels – whether online, in-person, or anywhere money moves,” said a Stitch spokesperson. “This funding round comes at a time when we’re ready to scale more aggressively and better serve our clients' growing needs.”

Founded in 2021, Stitch has gained attention for its robust payments platform tailored to the specific demands of enterprise clients. In addition to providing access to local online and in-person payment methods, the platform offers features such as:

• Real-time fraud prevention through its award-winning Shield product
• Customizable integrations for enterprise-scale operations
• 24/7 technical and customer support
• Built-in redundancies and intelligent routing for optimal uptime and conversion

Gbenga Ajayi, Partner at QED Investors and Head of Africa and the Middle East, noted Stitch’s rapid evolution in a statement:

“Stitch has consistently delivered world-class payment solutions and earned a reputation as a trusted provider. Their shift from a traditional PSP to a full-spectrum payments partner — now including in-person solutions and acquiring — reflects a rare ability to anticipate market demands and execute with precision,” said Ajayi.

The company’s in-person payments strategy has gained momentum following its acquisition of ExiPay in 2025. Stitch now supports omnichannel retailers, telecoms, and other businesses with a unified platform for both in-store and digital payments. Its upcoming move into acquiring is expected to offer clients an end-to-end card solution with full ownership of the product lifecycle.

With the new funding, Stitch aims to deepen its presence in the African market and expand its reach as a payments powerhouse capable of meeting the complex and evolving needs of large-scale merchants.