Stitch just secured a massive $55 million Series B funding round, led by major global investors like QED Investors, Flourish Ventures, Glynn Capital, and Norrsken22. The round also saw continued support from existing backers such as PayPal Ventures, Ribbit Capital, and The Raba Partnership. This latest raise brings Stitch’s total funding to $107 million in just four years, and sets the stage for some major strategic moves. The fresh capital will help Stitch double down on its in-person payments capabilities, expand into acquiring, and strengthen its online payments suite—positioning the company as a comprehensive payments partner for enterprise merchants.
The Stitch team is clearly feeling confident about their growth and market position. They emphasized that the timing felt right to go all-in on expansion, and highlighted the strong fintech experience their new investors bring to the table. Having cultivated long-standing relationships with these firms, Stitch sees this round as more than just a cash injection—it’s about bringing in partners who’ve scaled similar businesses globally and can help Stitch do the same across Africa and beyond.
Since coming out of stealth in 2021, Stitch has made a name for itself by building payment infrastructure that deeply understands the unique needs of enterprise merchants. Their platform goes beyond basic payment processing—it includes advanced fraud prevention through their Shield product, high levels of customization, 24/7 support, and built-in redundancies that boost reliability and conversion rates. According to QED’s Gbenga Ajayi, Stitch isn’t just playing in the payments space—they’re setting new standards with scalable, innovative solutions.
Looking ahead, Stitch’s roadmap includes scaling up their in-person payments product (bolstered by the acquisition of ExiPay) and launching acquiring services. This move will enable them to offer a full end-to-end card product with complete control over the lifecycle—a major milestone in their evolution into a true omnichannel platform. With telcos, retailers, and other enterprise players increasingly demanding unified payments experiences, Stitch is clearly gearing up to deliver just that, with Africa as the starting point and global ambitions in sight.