The Empower Africa Business Platform is Now Live !!!
South African payments company Stitch has raised $55 million in its latest Series B funding round, pushing its total funding to $107 million.
The company, which builds infrastructure for digital payments, announced the new investment as it continues to grow its footprint across Africa.
The round was led by U.S.-based QED Investors and included backing from Flourish Ventures, Norrsken22, and Glynn Capital.
Previous investors such as Ribbit Capital, PayPal Ventures, and Firstminute Capital, along with notable angel investor Trevor Noah, also participated.
Gbenga Ajayi, a partner at QED Investors and head of its Africa and Middle East operations, praised Stitch’s progress over the past few years.
“We’ve seen Stitch grow into a reliable and innovative payments provider. They’ve built strong solutions that serve both global merchants and local businesses,” he said.
“What stands out is their ability to expand their offerings—from online payments to in-person solutions—while keeping pace with what the market needs. We’re excited to support their journey.”
Stitch plans to use the new funding to enhance its services and scale its operations further, positioning itself as a key player in Africa’s growing digital payments sector.
“We are delighted to partner with ISA to support the development of solar energy in Africa,” said Alain Ebobissé, CEO of Africa50. “This partnership will help to accelerate the deployment of solar energy in Africa and improve the lives of millions of Africans,” he added.
P1 Ventures, a seed-stage venture capital firm focused on Africa, has secured $35 million in its second fund, bringing it closer to its $50 million target.
South African fintech company Lula has secured a R340 million (about US$21 million) investment from the Dutch entrepreneurial development bank FMO to broaden its reach to small and medium-sized enterprises (SMEs) across the country.
The Invigilator, a Johannesburg-based startup delivering AI-driven tools to uphold exam integrity, has closed a funding round of $11 million to accelerate its expansion beyond Africa.
