Stitch Money
| Company type | Private |
|---|---|
| Industry | Fintech |
| Founded | 2019 |
| Founders | Kiaan Pillay, Priyen Pillay, Junaid Dadan |
| Headquarters | , |
Area served | Africa |
| Website | stitch |
Stitch is a fintech company operating in Africa providing open banking and payment products.[1][2][3] The company's headquarters are located in Cape Town, South Africa.[4]
History
[edit]In 2019, Stitch was founded in Cape Town, South Africa as Stitch Money.[5]
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.[6][7]
In April 2021, the company began piloting its first payments product – Pay-ins.[8]
In October 2021, the company raised a $2 million seed extension and announced expansion into Nigeria.[9][10]
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.[11][12][13]
In April 2022, Stitch launched LinkPay – the first payments API in Africa that tokenizes user financial accounts.[14][15][16][17]
In June 2022, Stitch launched its Payouts product, enabling businesses to send money – including payments to customers, vendors, suppliers, and employees.[18]
References
[edit]- ^ 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.
- ^ East, Forbes Middle. "South Africa-Based Fintech Startup Stitch Raises $21M In Latest Funding Round". Forbes ME. Retrieved 2022-11-23.
- ^ Adams (2022-02-16). "STITCH Raises $21 MILLION for it's [sic] API Infastructure [sic] and Financial Platform Embedding". COINNEWSEXTRA. Retrieved 2022-11-23.
- ^ Moyo, Admire (2022-02-15). "Fintech start-up Stitch raises R316m in new funding". ITWeb. Retrieved 2022-11-23.
- ^ Gebre, Samuel (2022-02-14). "Stitch Raises $21 Million for African Fintech Market Expansion - BNN Bloomberg". Bloomberg. Retrieved 2022-11-23.
- ^ Adams, Ester (2021-10-29). "South African API Fintech, Stitch Raises $2m, Expands to Nigeria". Techawk. Retrieved 2022-11-23.
- ^ Kene-Okafor, Tage (2021-02-25). "Stitch emerges from stealth with $4M for its API fintech play in Africa". TechCrunch. Retrieved 2022-11-23.
- ^ "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.
- ^ 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.
- ^ Kene-Okafor, Tage (2021-10-28). "Stitch gets a $2M seed extension, hires Benjamin Dada to lead Nigerian expansion". TechCrunch. Retrieved 2022-11-23.
- ^ Kene-Okafor, Tege (2022-02-14). "Stitch raises $21M for its API infrastructure and embedded finance platform". TechCrunch. Retrieved 2022-11-23.
- ^ "Stitch raises $21M for its API infrastructure and embedded finance platform". CRE. Retrieved 2022-11-23.
- ^ "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.
- ^ Jackson, Tom (2022-04-25). "SA fintech Stitch launches new one-click secure payments product LinkPay". Disrupt Africa. Retrieved 2022-11-23.
- ^ "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.
- ^ 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.
- ^ PYMNTS (2022-04-25). "Stitch Rolls Out Payments Product LinkPay". www.pymnts.com. Retrieved 2022-11-23.
- ^ "'One-click API' Stitch now makes it easier to move money". Ventureburn. 2022-07-05. Retrieved 2022-11-23.