Stitch is a payments infrastructure company based in Cape Town, South Africa. Its platform helps businesses connect to the financial system, offering online payment methods as a Payments Service Provider and in-person payments at POS, and supports a variety of pay-in methods, payment and financial management solutions, and Payouts. The platform includes fraud prevention through its Shield product, enterprise flexibility and customization, technical and integration client services, 24/7 customer support, and built-in redundancies with automated routing to improve conversion and reliability. Stitch serves South African businesses including Takealot, Mr. D, MTN, Vodacom, Standard Bank’s Shyft, TFG’s Bash, Hollywoodbets, Luno and The Courier Guy. The company raised $55M in Series B funding and intends to use the funds to expand operations and its development efforts. Stitch has raised $107M in total funding to date. Stitch is a Cape Town–based fintech that began emerging from stealth in 2021 and builds end-to-end payments infrastructure and open-banking APIs for enterprises. Its product set includes PayOS (an orchestration and reconciliation dashboard), pay-by-bank, card acceptance, recurring debits, cash/manual bank transfer, and payouts, plus a subsidiary (WigWag) for SMBs to accept link/card payments. The company has expanded from a quasi-data, quasi-bank-to-bank platform into a next-generation payment service provider serving large merchants and startups across Africa. Stitch works with customers including MTN, Multichoice, The Foschini Group, SnapScan and Yoco, and competes with Mono, Okra, Revio and MoneyHash. It is on track to process over 50 million transactions totaling about $2 billion in TPV this year and employs over 80 people. Stitch plans to use its recent funding to continue product development, expand its customer base and geography, and add more first-party payment rails (including direct card and bank rail connections without intermediaries). Stitch builds API infrastructure and an embedded finance platform that lets businesses connect bank and financial accounts to power KYC/onboarding, access transaction and balance data, perform fraud checks, and enable bank-to-bank payments. Its customers include Chipper Cash, Luno, ImaliPay, FlexClub and Yoco, and it serves e-commerce companies, marketplaces, platforms and fintechs. After launching its payments product in South Africa in April 2021, Stitch reported a 50% month-on-month growth in payments volume over the following six months, expanded payments to Nigeria and was on track to facilitate $10 million in monthly payments by December; the company later cited 104% month-on-month growth in payments value since launch, plus Q4 2021 metrics of 44% month-on-month customer growth and a 72% month-on-month increase in linked financial accounts. Stitch aims to create a "financial graph" across Africa to enable interoperability across geographies, providers, banks and accounts so businesses can write once and scale across markets. The company plans to deepen payments, data and identity products, launch new offerings, enter new markets and expand its team across offices in Cape Town, Johannesburg and Lagos. Stitch was co-founded by Kiaan Pillay, Natalie Cuthbert and Priyen Pillay. Stitch builds fintech infrastructure — a Plaid-style data product and a payments/pay-by-bank solution — to let developers and fintechs access identities, accounts, transactions and balances with user consent. The company launched from stealth in early 2021 and initially focused on South Africa before expanding into Nigeria. Stitch has been testing payments in both markets and soft‑launched a pay‑by‑bank feature in South Africa, where it reported more than 50% month‑on‑month growth in customers and payments volume within six months. Clients include Chipper Cash, Paystack, Franc, Sanlam, Yoco and Flexclub. The company says it is on track to facilitate $10 million in monthly payments by the end of the year. Stitch plans to fully launch its data solution by the end of November and expand its team in Lagos for the Nigerian market. Stitch offers developer APIs that let apps connect to users' financial accounts to share transaction history and balances, confirm identities and initiate payments. The company currently sells data and identity API products and plans to add a payments product this month. While in stealth it secured a handful of clients, including Intelligent Debt Management, Momentum Velocity Club and FlexClub. Stitch charges developers per API call and in some cases a fixed fee for products like budgeting or personal finance management. The founding team—Kiaan Pillay (CEO), Natalie Cuthbert (CTO) and Priyen Pillay (CPO)—began working on the idea full-time in October 2019 and raised a pre-seed shortly thereafter. Stitch will use its new funding to consolidate growth in South Africa and plans to launch operations in West and East Africa.

Total raised

$107M

Funding rounds

5

Latest round

Series B

Latest activity

Apr 2025