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Stitch is a fintech company operating in Africa providing open banking and payment products. The company's headquarters are located in Cape Town, South Africa.

History

In 2019, Stitch was founded in Cape Town, South Africa as Stitch Money.

In February 2021, Stitch raised $4 million in seed funding. The firm was initially focused on enabling businesses to access user financial accounts to view financial data.

In April 2021, the company began piloting its first payments product – Pay-ins.

In October 2021, the company raised a $2 million seed extension and announced expansion into Nigeria.

In February 2022, Stitch raised $21 million in Series A funding, led by New York-based long-term investment firm The Spruce House Partnership, for its API infrastructure and embedded finance platform.

In April 2022, Stitch launched LinkPay – the first payments API in Africa that tokenizes user financial accounts.  

In June 2022, Stitch launched its Payouts product, enabling businesses to send money – including payments to customers, vendors, suppliers, and employees.

References

1. Elias, Maro (2022-04-18). "Why Open Banking Is The Future of Fintech And What It Means for Card Networks". Tekedia. Retrieved 2022-11-23.
2. East, Forbes Middle. "South Africa-Based Fintech Startup Stitch Raises $21M In Latest Funding Round". Forbes ME. Retrieved 2022-11-23.
3. Adams (2022-02-16). "STITCH Raises $21 MILLION for it's [sic] API Infastructure [sic] and Financial Platform Embedding". COINNEWSEXTRA. Retrieved 2022-11-23.
4. Moyo, Admire (2022-02-15). "Fintech start-up Stitch raises R316m in new funding". ITWeb. Retrieved 2022-11-23.
5. Gebre, Samuel (2022-02-14). "Stitch Raises $21 Million for African Fintech Market Expansion - BNN Bloomberg". Bloomberg. Retrieved 2022-11-23.
6. Adams, Ester (2021-10-29). "South African API Fintech, Stitch Raises $2m, Expands to Nigeria". Techawk. Retrieved 2022-11-23.
7. Kene-Okafor, Tage (2021-02-25). "Stitch emerges from stealth with $4M for its API fintech play in Africa". TechCrunch. Retrieved 2022-11-23.
8. "Stitch $21 million Series A and Africa's API fintech sector". Benjamindada.com, modern tech media in SSA. 2022-02-17. Retrieved 2022-11-23.
9. Nigeria, Ripples (2022-10-24). "US-based VC, Flourish Ventures, launches Africa-focused program, Madica. 2 other stories and a trivia". Latest Nigeria News | Top Stories from Ripples Nigeria. Retrieved 2022-11-23.
10. Kene-Okafor, Tage (2021-10-28). "Stitch gets a $2M seed extension, hires Benjamin Dada to lead Nigerian expansion". TechCrunch. Retrieved 2022-11-23.
11. Kene-Okafor, Tege (2022-02-14). "Stitch raises $21M for its API infrastructure and embedded finance platform". TechCrunch. Retrieved 2022-11-23.
12. "Stitch raises $21M for its API infrastructure and embedded finance platform". CRE. Retrieved 2022-11-23.
13. "Stitch Raises $21M For Its API Infrastructure And Embedded Finance Platform". POCIT. Telling the stories and thoughts of people of color in tech. 2022-02-14. Retrieved 2022-11-23.
14. Jackson, Tom (2022-04-25). "SA fintech Stitch launches new one-click secure payments product LinkPay". Disrupt Africa. Retrieved 2022-11-23.
15. "Stitch Linkpay to enable users link accounts and make secure payment". Benjamindada.com, modern tech media in SSA. 2022-04-25. Retrieved 2022-11-23.
16. Augustine, Abraham (2022-04-26). "With Stitch's 'LinkPay', one-click checkout via bank transfer comes to South Africa and Nigeria". TechCabal. Retrieved 2022-11-23.
17. PYMNTS (2022-04-25). "Stitch Rolls Out Payments Product LinkPay". www.pymnts.com. Retrieved 2022-11-23.
18. "'One-click API' Stitch now makes it easier to move money". Ventureburn. 2022-07-05. Retrieved 2022-11-23.

• 2019 establishments in South Africa
• Technology companies established in 2019