South Africa: Cape Town fintech Stitch secures $53mln in funding
This brings Stitch's total funding to $107m since launching four years ago. The company plans to use the latest round to deepen and expand its in-person payments offering, move into the acquiring space, and further enhance its online payments suite.
'We're super excited and proud to be where we are in the market today. We feel we've earned the right to work with clients across the board – not just for online or in-person payments but with any money movement needs,' said the Stitch team.
'It felt like the right time to more aggressively expand our offering so we can further serve our clients. We've been fortunate to know all the new investors in the round for many years, and they all come with an impressive amount of fintech experience, including support in scaling similar businesses in other markets.'
Gbenga Ajayi, partner and head of Africa and the Middle East at QED Investors, commented:
'Having closely followed the Stitch team over the past four years, it's been impressive to watch their rapid growth and execution in becoming a trusted payment provider.
'At QED Investors, we're thrilled to partner with such visionary founders and confident that Stitch will continue to set new standards in the payments industry across Africa and beyond.'
Stitch currently supports some of South Africa's top enterprise businesses, including Takealot, Mr. D, MTN, Vodacom, Standard Bank's Shyft, TFG's Bash, Hollywoodbets, Luno, The Courier Guy, and more.
Its platform includes a full suite of end-to-end payment methods:
- Card, Pay by bank, Apple Pay, Google Pay, Samsung Pay, Capitec Pay, Absa Pay, Nedbank Direct EFT, DebiCheck, manual EFT, cash, and 24/7, 365 payouts
- In-person payments across multi-lane retail and omnichannel businesses
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Web Release
4 days ago
- Web Release
Al Ansari Exchange Launches Digital Issuance for Prepaid Cards, Promoting Financial Inclusion in the UAE
Al Ansari Exchange, the UAE's largest remittance and foreign exchange company and a subsidiary of Al Ansari Financial Services PJSC, is proud to announce the digital issuance of its popular prepaid cards, the TravelCard and FlexiblePay cards. This initiative promotes financial inclusion and supports the UAE's vision of fostering a cashless economy. Customers can now obtain these cards instantly through the Al Ansari Exchange app, enhancing convenience, security and accessibility. Within just a few seconds of application approval, UAE residents are issued a 16-digit Visa co-branded digital card ready for immediate use for seamless payments. The digital issuance eliminates the need for branch visits, allowing customers to access their cards from the comfort of their homes or on the go. To deliver an even smoother customer experience, the digital cards are easily integrated with major digital wallets, including Apple Pay, Samsung Pay, and Google Pay, offering customers the convenience and speed of contactless payments. The TravelCard is tailored for travellers, offering competitive exchange rates, multi-currency support, and worldwide acceptance, making it an ideal companion for international trips. Meanwhile, the FlexiblePay card offers a versatile payment solution for everyday expenses, with easy reload options, online shopping capabilities, and seamless wallet integration. Both cards are equipped with enhanced security features to ensure safe transactions and peace of mind. 'We are thrilled to introduce the digital issuance of our TravelCard and FlexiblePay cards.' said Ali Al Najjar, COO of Al Ansari Exchange. 'This innovation reflects our commitment to providing cutting-edge financial solutions that are both convenient and secure. By leveraging digital technology, we aim to enhance the overall customer experience and meet the evolving needs of our clients. Our goal is to empower individuals from all walks of life, fostering financial inclusion and enabling them to embrace the advantages of a cashless society, in line with the UAE's vision for a digital economy and its position as a global financial hub.' Al Ansari Exchange is a technology-led financial services provider redefining remittances and currency exchange through secure, smart, and scalable digital solutions. With the UAE's largest network and a fast-growing app-based user base, it empowers millions to move money with ease and confidence. Rated 5A1 by Dun & Bradstreet for financial strength, it is trusted by millions and built for the future of finance.
Web Release
24-06-2025
- Web Release
Google Pay Launches in Lebanon in Collaboration with Visa
Visa (NYSE: V), a global leader in digital payments, has announced the launch of Google Pay in Lebanon, in collaboration with Google. Starting today, Visa cardholders of BLOM and BLF can add their Visa cards to their Google Wallet on Android and Wear OS devices, allowing payments to be made wherever contactless options are accepted. More banks in Lebanon will go live over the next few weeks. This integration supports the strong demand for digital payment options in Lebanon, offering locals and tourists the convenience of using their mobile phones for contactless payments. Lebanon now boasts over 5.3 million internet users (representing 91.6% penetration) and approximately 4.7 million mobile broadband subscriptions (over 80% of the population), indicating a high level of digital readiness. With smartphone usage effectively mirroring mobile access, Lebanese consumers are well-positioned to adopt mobile-first payment solutions like Google Pay. Security is the cornerstone of Google Pay as it is based on tokenization, a security-enhancing technology that replaces sensitive personal data with a unique cryptographic key. This ensures that each transaction is protected with a device-specific token and a dynamic security code that changes with every transaction. Mario Makary, Vice President and Country Manager, for Visa in Levant, 'We are excited to strengthen our ongoing efforts to accelerate Lebanon's digital payments journey through this collaboration with Google. As mobile penetration in the country surpasses 80% as of early 2025, and consumers increasingly embrace contactless, cashless options, this launch marks another important step in delivering secure, convenient, and globally accepted payment experiences. Lebanon now joins a growing list of markets, including Jordan, where we are actively driving the shift toward mobile-first solutions, reinforcing our commitment to advancing the future of payments across the Levant.'
Zawya
24-06-2025
- Zawya
Sohar International & Sohar Islamic expand digital ecosystem with the launch of Google Pay
Muscat: Reinforcing its position as a leading digital bank in Oman, Sohar International and its Islamic banking window – Sohar Islamic, have announced the launch of Google Pay, introducing yet another secure and contactless payment solution to their growing suite of digital offerings. The service is now available to all Sohar International and Sohar Islamic customers, enabling fast, seamless, and secure transactions through Android smartphones and Wear OS devices—across point-of-sale terminals, online platforms, and supported mobile applications worldwide. The introduction of Google Pay marks a significant step forward in the bank's digital transformation journey, reflecting its ongoing commitment to adopting globally trusted technologies that deliver enhanced value to customers. This launch is not just an addition to Sohar International and Sohar Islamic's payment ecosystem—it is a testament to the bank's strategic focus on innovation, security, and customer-centric banking experiences. As Sohar International continues to evolve its digital capabilities, the bank remains steadfast in offering intuitive, future-ready solutions that meet the growing expectations of today's tech-savvy customers. Google Pay allows customers to simply and securely link their Sohar International or Sohar Islamic debit, credit, or prepaid cards via the Google Wallet app. Once added and verified, customers can complete transactions by holding their Android device near a compatible payment terminal or making purchases online and within apps—eliminating the need to repeatedly enter card details. Engineered with advanced security architecture, Google Pay ensures that sensitive card information is never shared with merchants. Instead, it utilizes a virtual account number that is device-specific and supported by a dynamic security code for each transaction. This robust security framework offers an additional layer of protection, aligning with the bank's uncompromising commitment to safeguarding customer data and financial integrity. Available in over 60 countries, Google Pay provides a fast, simple, and secure payment experience—underscoring Sohar International's vision to integrate global best practices into its service delivery. The bank encourages customers to leverage this new payment solution for greater convenience and efficiency in everyday financial transactions. The integration of Google Pay reflects Sohar International and Sohar Islamic's proactive approach to building a more inclusive, agile, and digitally empowered banking environment for its diverse customer base. About Sohar International With the vision to become a world-class Omani services company that helps customers, community and people to prosper and grow, Sohar International operates with a purpose to help people 'win' by delivering responsive banking for their ever-changing world, complementing their growth and prosperity with international standard service delivery. The Bank seeks to redefine banking in Oman through transformational developments centred on the principles of More Velocity, making everything simple and fast; More Value, ensuring relevance and connectivity to customers' world; and More Vision, liberating stakeholders through talented leadership.
