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South African fintech startup Sticitt has secured an oversubscribed round of seed funding from a consortium led by Nustate Capital Ventures to help it continue to grow. The investment consortium members include Grindstone Ventures, Nustate Capital Ventures, Hlayisani Capital, Realm Digital, and GalloProvincialis.
Sticitt simplifies payments within the South African education market with its easy-to-use payment system, Sticitt Pay, which provides niche communities with an alternative payment solution to cash, formal banking, and card-based payments. The funding round will help the startup reach more schools, parents, and learners and enable its expanded product roadmap centred around education-related payments and youth banking.