South Africa's Stitch Raises $25M Series A Led by Ribbit Capital

Stitch, a South African fintech specializing in payments infrastructure, secured $25 million in a Series A round led by Ribbit Capital. The company has evolved from its origins as a bank-to-bank payments platform into a comprehensive payment service provider offering API gateways for online payments. Stitch's product suite now includes payment acceptance, reconciliation, and fund disbursement capabilities, enabling businesses to embed payments into their platforms.

The company projected processing over 50 million transactions worth $2 billion in total payment volume during 2023. Stitch's modular, API-driven architecture reduces time-to-market for businesses looking to integrate financial services. The funding underscores growing investor appetite for embedded payments infrastructure in African markets, where digital payment adoption is accelerating rapidly.