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African Startup Funding Tracker

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South African Fintech Stitch Raises Additional USD 2 Mn Funding
South African Fintech Stitch Raises Additional USD 2 Mn Funding

Stitch, a South African API fintech startup, has extended its seed round to USD 6 Mn from the USD 4 Mn announced earlier in the year, and confirmed its expansion into Nigeria. The new round included leading global fintech entrepreneurs like Tom Blomfield, co-founder of Monzo; Matt Robinson, co-founder of GoCardless; Emilie Choi, president of Coinbase; and Charlie Delingpole, founder of ComplyAdvantage.

The Stitch API allows developers to connect apps to financial accounts within minutes, allowing users to share their transaction histories and balances, confirm their identities, and initiate payments. The tooling enables companies to innovate with new and improved services including, personal finance, lending, insurance, payments, and wealth management. Stitch also allows fintechs to work with traditional financial institutions in a safer and more compliant way.