Stitch announces $55 million series B funding round

Stitch has announced a $55 million Series B funding round led by QED Investors, enabling our fast-growing team to deepen and expand our in-person payments offering, move into the acquiring space and further bolster our online payments suite, to better serve enterprise merchants across all payments needs. This round brings our total funding to $107 million in four years.

The round will add significant global investment power – including QED Investors, Flourish Ventures, Norrsken22 and Glynn Capital – to our already expansive list of backers, including Ribbit Capital, PayPal Ventures, Firstminute Capital and angels such as Trevor Noah.

"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 our 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."

We at Stitch have seen impressive growth since emerging from stealth in February 2021, standing out thanks to the team’s deep understanding of the payments needs and requirements for enterprise merchants. Beyond access to all local online payment methods and in-person payments, the Stitch platform is also known for:

• Fraud prevention, with its award-winning Shield product
• Flexibility and customisation for enterprise merchants
• Client services, including technical and integration support    
• 24/7 customer support
• Built-in redundancies and automated routing to improve conversion and reliability

"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,” said QED Investors Partner and Head of Africa and the Middle East Gbenga Ajayi. “Stitch has consistently delivered world-class payment solutions, empowering global merchants with seamless, reliable and innovative experiences. Their ongoing expansion from a PSP to a comprehensive payments partner, including robust in-person payments and acquiring solutions, demonstrates their unique ability to anticipate market needs and execute at scale. At QED Investors, we’re thrilled to partner with such visionary founders, confident that Stitch will continue to set new standards in the payments industry across Africa and beyond."

Today, our team is focused on expanding our In-person payments solution, launched with acquisition of ExiPay in 2025, and will soon add acquiring to our services list. We offer a true omnichannel payment platform, allowing multi-lane retailers, telcos and other omni-channel businesses to modernize their in-store and online payment experiences. The upcoming move into acquiring means that we will be able to offer our clients an end-to-end card product with full control over the whole product lifecycle.

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