South African Fintech Stitch Raises SD 25 M Series A Extension Round

South African fintech Stitch, which has built an “end-to-end payments solution designed to meet the complex and evolving payments needs for its enterprise clients has raised USD 25 M in an extension round of funding led by global fintech investor Ribbit Capital, bringing Stitch’s total Series A to USD 46 M. Existing backers, including CRE Ventures, PayPal Ventures and the Raba Partnership, participated in the round.

Stitch focuses on enabling businesses to build, optimize, and scale financial products and providing API gateways to improve the conversion for online payments and optimize payment operations of its clients. Customers can accept payments via pay by bank, debit and credit card, recurring debits, cash and manual bank transfer; manage, orchestrate and reconcile payments across multiple methods, providers and geographies in one dashboard with PayOS; and disburse funds via payouts.