Stitch is a financial technology company based in Cape Town, South Africa, founded in 2019 by Kiaan Pillay, Priyen Pillay, and Junaid Dadan. It specializes in providing open banking and payment products across Africa. Stitch aims to enable businesses and consumers to access the financial system more easily for improved money management. In its recent efforts to expand, Stitch has raised substantial funding and developed various financial APIs to enhance transaction security and reliability.
In the past couple of years, Stitch has seen significant growth and expansion in its operations and services:
Attribute | Information |
---|---|
Founding Date | 2019 |
Headquarters | Cape Town, South Africa |
Founders | Kiaan Pillay, Priyen Pillay, and Junaid Dadan |
Revenue | Estimated annual revenue of $15M as of 2025 |
Profits | Not publicly disclosed |
Key Investors | 500 Global, RaliCap, Ribbit Capital, and PayPal Ventures |
Industry | Fintech |
Number of Employees | Approximately 146 employees as of April 2025 |
Stitch was founded in 2019, aiming to tackle the complexities associated with APIs in the fintech sector. Initially, the firm focused on allowing businesses to access user financial accounts. This foundational capability laid the groundwork for Stitch to introduce significant products such as Pay-ins and eventually expand into tokenized payment systems like LinkPay. From the outset, Stitch was backed by several prominent investors, aiding its rapid growth and positioning it as a key player in the African fintech landscape.
Stitch functions primarily as a fintech infrastructural platform, targeting seamless financial transactions through API technologies.
2021: Raised $21 million in Series A funding to improve its API infrastructure and expand its embedded finance platform.
Milestones:
Achievements:
Stitch is currently operational within several African markets, providing robust solutions tailored for various clients ranging from e-commerce to financial services. It holds a strong position in leveraging the growing fintech landscape in sub-Saharan Africa, offering seamless integration paths for financial operations via its API platform. The acquisition of ExiPay catapulted its offerings into the physical retail sector, aligning it strategically for omnichannel operations. Stitch's innovative approaches give it a competitive advantage in servicing a diversified customer base, ensuring both online and in-person payment solutions are available.
Stitch continues to transform the fintech landscape in Africa with its innovative platform and strategic expansions. By offering solutions that incorporate both online and in-person payment capabilities, it significantly enhances its value proposition across various sectors. Looking forward, Stitch is poised to continue its trajectory of growth and influence by further expanding its technological offerings and entering new markets. As the demand for easier and more efficient transaction solutions increases, Stitch is well-positioned to serve as a pivotal player in the industry.