Celebrity Comedian Trevor Noah Backs SA Fintech Stitch In USD 55 M Series B
Summary
South African fintech Stitch has officially confirmed its USD 55 M Series B round, bringing its total funding to USD 107 M. The raise was led by QED Investors, with backing from Flourish Ventures, Glynn Capital, Norrsken22, and high-profile angels like Trevor Noah. Existing investors Ribbit Capital, PayPal Ventures, The Raba Partnership, and firstminute capital also participated.The announcement, long speculated but only recently confirmed by CEO Kiaan Pillay, marks a pivotal moment for the company, which has rapidly evolved from an open banking API provider into a full-scale omnichannel payments platform. The integration aims to reduce dependence on third-party processors, enabling faster settlements and improved reliability; key selling points as businesses demand tighter control over payment infrastructure.While Stitch has maintained a deliberate focus on the South African market, the company is eyeing selective expansion into other African countries, building the rails for a more interoperable digital economy. Its upcoming move into card acquiring signals a continued push toward end-to-end control of the payment lifecycle.The round stands out amid a global VC slowdown, reinforcing fintechs status as Africas most well-funded sector. Execution, regulatory navigation, and continued product innovation will be critical as the company works to position itself as a cornerstone of Africas digital commerce infrastructure.