
Cauris Finance Secures $40 Million Debt Facility to Back African Fintechs
Cauris Finance, an Africa-focused impact credit fund, has successfully closed a $40 million debt facility with a U.S.-based institutional investor.
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.
Cauris Finance, an Africa-focused impact credit fund, has successfully closed a $40 million debt facility with a U.S.-based institutional investor.
GOGO Electric has secured a revolving working capital facility from the Africa Go Green Fund (AGG), managed by Cygnum Capital, to boost electric motorbike production in Uganda.
Kenyan e-commerce and fintech platform Copia Global has made a strategic move, appointing seasoned tech leader John Lazar to its board of directors alongside securing $20 million in fresh funding.
© 2021 Empower Africa. All rights reserved.