South Africa’s payments startup Stitch raises $55 million Series B funding
- Stitch raised $55 million in a Series B funding round led by QED Investors.
- The funding will support the expansion of Stitch's in-person payment offerings and online payment suite.
- Stitch plans to enter card acquiring, allowing direct processing of card transactions.
Stitch's ability to secure significant funding in a challenging economic environment highlights the demand for innovative payment solutions in South Africa. Their focus on enhancing infrastructure and expanding service offerings positions them well to meet the evolving needs of enterprises in the digital age. However, they must continue to innovate and adapt to maintain a competitive edge in a rapidly changing market.
