* . *
  • About
  • Advertise
  • Privacy & Policy
  • Contact
Sunday, June 1, 2025
Earth-News
  • Home
  • Business
  • Entertainment
    Why Starz Entertainment Stock Soared Today – The Motley Fool

    Unpacking the Surge: What Fueled Starz Entertainment’s Stock Explosion Today!

    Unveiling the Enigmatic: First Looks at Destruction and Puck in ‘The Sandman

    Jackie Chan Reveals This Family Member ‘Never Watched’ The Whole Of Any Of His Movies – Yahoo

    Jackie Chan Reveals This Family Member ‘Never Watched’ The Whole Of Any Of His Movies – Yahoo

    Mavs CEO holds firm on new arena, entertainment district in Dallas – Dallas News

    Mavs CEO Stands Strong on Vision for New Arena and Entertainment District in Dallas

    Entertainment: On Your Marks, Get Set, Beer Run! – Urban Milwaukee

    Get Ready to Race: The Ultimate Beer Run Experience Awaits!

    Rachel Guttman Launches Entertainment Law Firm Gutt Law, PLLC [Exclusive] – MusicRow.com

    Rachel Guttman Unveils Exciting New Entertainment Law Firm: Gutt Law, PLLC!

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    This giant microwave may change the future of war – MIT Technology Review

    Revolutionizing Warfare: The Impact of a Game-Changing Giant Microwave

    Bajeed Pattan Joins Forbes Technology Council as Innovation Leader – PRWeb

    Bajeed Pattan Takes the Helm as Innovation Leader at Forbes Technology Council!

    Lafayette Regional Technology Council – Tech Leadership That’s Homegrown and Future-Focused – Discover Lafayette

    Lafayette Regional Technology Council – Tech Leadership That’s Homegrown and Future-Focused – Discover Lafayette

    Drone technology demo in Cambria County showcases future of lifesaving medical deliveries – local21news.com

    Revolutionizing Healthcare: Drone Technology Takes Flight for Lifesaving Medical Deliveries in Cambria County

    Revolutionary Harvesting Technology Promises to Slash CAR-T Manufacturing Costs!

    Stop the Machines: The Rise of Anti-Technology Extremism – International Centre for Counter-Terrorism – ICCT

    Unplugged: The Surge of Anti-Technology Extremism

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
  • Home
  • Business
  • Entertainment
    Why Starz Entertainment Stock Soared Today – The Motley Fool

    Unpacking the Surge: What Fueled Starz Entertainment’s Stock Explosion Today!

    Unveiling the Enigmatic: First Looks at Destruction and Puck in ‘The Sandman

    Jackie Chan Reveals This Family Member ‘Never Watched’ The Whole Of Any Of His Movies – Yahoo

    Jackie Chan Reveals This Family Member ‘Never Watched’ The Whole Of Any Of His Movies – Yahoo

    Mavs CEO holds firm on new arena, entertainment district in Dallas – Dallas News

    Mavs CEO Stands Strong on Vision for New Arena and Entertainment District in Dallas

    Entertainment: On Your Marks, Get Set, Beer Run! – Urban Milwaukee

    Get Ready to Race: The Ultimate Beer Run Experience Awaits!

    Rachel Guttman Launches Entertainment Law Firm Gutt Law, PLLC [Exclusive] – MusicRow.com

    Rachel Guttman Unveils Exciting New Entertainment Law Firm: Gutt Law, PLLC!

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    This giant microwave may change the future of war – MIT Technology Review

    Revolutionizing Warfare: The Impact of a Game-Changing Giant Microwave

    Bajeed Pattan Joins Forbes Technology Council as Innovation Leader – PRWeb

    Bajeed Pattan Takes the Helm as Innovation Leader at Forbes Technology Council!

    Lafayette Regional Technology Council – Tech Leadership That’s Homegrown and Future-Focused – Discover Lafayette

    Lafayette Regional Technology Council – Tech Leadership That’s Homegrown and Future-Focused – Discover Lafayette

    Drone technology demo in Cambria County showcases future of lifesaving medical deliveries – local21news.com

    Revolutionizing Healthcare: Drone Technology Takes Flight for Lifesaving Medical Deliveries in Cambria County

    Revolutionary Harvesting Technology Promises to Slash CAR-T Manufacturing Costs!

    Stop the Machines: The Rise of Anti-Technology Extremism – International Centre for Counter-Terrorism – ICCT

    Unplugged: The Surge of Anti-Technology Extremism

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
Earth-News
No Result
View All Result
Home Technology

Stitch announces $25 million Series A extension to expand enterprise payments product

October 3, 2023
in Technology
Stitch announces $25 million Series A extension to expand enterprise payments product
Share on FacebookShare on Twitter

Stitch has announced a $25 million raise to scale its enterprise payment solutions product.

South African payments solutions provider Stitch has announced a $25 million Series A extension round. Ribbit Capital led the funding round with involvement from both new and previous investors, including PayPal Ventures, The Raba Partnership, CRE Venture Capital, and 9 Yards Capital.

Stitch launched in February 2021 and has since raised $52 million. The startup enables enterprises to accept, manage and disburse funds through its suite of products. “We’ve seen substantial growth since we emerged from stealth just over two years ago, and we look forward to finding more ways to anticipate and address the needs of the large, global enterprises we serve as the payments landscape continues to evolve,” said Kiaan Pillay, Stitch CEO. According to Pillay, Stitch is on track to process $2 billion in total payment value (TPV) this year and 50 million in payment volume. 

Stitch started life as one of the firms that bet that Open Banking would unlock better and more personalised banking services. A previous TechCabal article described Stitch as a startup that “offers data and payments solutions that reduce the effort required for businesses to connect to their users’ financial accounts and enable bank-to-bank payments without leaving the existing app interface.” 

The bet at the time was that this would enable fintech use cases like KYC and onboarding, personal and business financial management, lending, wallet top-ups, and e-commerce checkouts. That bet did not pan out as expected.

“There was not a huge amount of traction. I think other markets, especially Western markets have good use over there. But I think it [was] just a bit too early in some of the markets we were targeting,” Pillay conceded. “We started off serving [customers] across this method called pay-by-bank. But in doing so we ended up having almost three distinct areas that we started to work with clients on [and] realised more areas we could offer solutions on,” he added.

As the firm explored new product lines it hit a sweet spot with providing full payment solutions for enterprise-sized businesses in South Africa. So instead of trying to be everything to everyone, the fintech pared back its focus. “At the beginning of this year, we reined in our focus. And we sort of went from being a single method and being paid by the bank to being a full-on enterprise PSP (payment service provider). [The result was that] we ended up serving a lot of enterprises.”

Stitch hopes to restart plans to expand across Africa. The South African company has maintained a small Nigerian operation but held back on aggressively selling in the West African nation in favour of doubling down in South Africa. A renewed expansion push will see it test the waters with enterprises in Kenya, Ghana, Egypt and Nigeria. Stitch also plans to offer its suite of end-to-end payment solutions to US and UK-domiciled companies. The startup also recently launched WigWag, a separate subsidiary specifically serving SMEs.

According to the company, unlike rival payment service providers, Stitch’s go-to-market is built on working closely with enterprise customers to help them fully leverage its API suite to build out payment workflows. 

“We only focus on a few enterprises,” said Pillay. PayOS, its flagship product enables enterprise customers to accept payments via pay by bank, debit and credit card, recurring debits, cash and manual bank transfer. One such customer is dLocal, the Uruguayan cross-border payment processor that connects global merchants to emerging markets.  

MTN, the South African telco giant which has recently been boosting its fintech appeal after a deal with Mastercard valued its fintech business at more than $5 billion is also a customer of Stitch. “We really go deep with them on the kind of payment solutions we can offer them and obviously along the way, we find that some of the solutions are applicable to other businesses too.”

Stitch has always gone where its clients’ needs have taken it. But it still had to deal with growing competition. “We still want to continue to go deep with all of our existing clients, I think we’ve barely scratched the surface in ways that we can work with them. We’re really excited that we do significant amounts of volume and scale to the existing customers, but it really is only a sliver of their total volume.” Pillay concluded.

Have you got your tickets to TechCabal’s Moonshot Conference? Click here to do so now!

Get the best African tech newsletters in your inbox

>>> Read full article>>>
Copyright for syndicated content belongs to the linked Source : TechCabal – https://techcabal.com/2023/10/03/stitch-series-a-extension/

Tags: announcesStitchtechnology
Previous Post

Exclusive: Paystack expands further into offline payments as Nigeria’s POS volume surges

Next Post

Starlink is offering users in Nigeria a 20% discount as it looks to expand reach

Climate scientists are hosting a 100-hour YouTube livestream in response to Trump’s research funding cuts – Space

Climate scientists are hosting a 100-hour YouTube livestream in response to Trump’s research funding cuts – Space

June 1, 2025
YouTube Science Star Derek Muller Confronts PFAS “Forever Chemicals”—In His Own Blood – Scientific American

YouTube Science Sensation Derek Muller Takes on PFAS “Forever Chemicals” Found in His Own Blood!

June 1, 2025
The 17 Recipes We Can’t Wait To Make This June – Yahoo

17 Must-Try Recipes to Savor This June!

June 1, 2025
Blaze, Duke, Lockett, Rademacher headline men’s freestyle champions at U20 World Team Trials – USA Wrestling

Rising Stars Shine: Blaze, Duke, Lockett, and Rademacher Claim Victory at U20 Men’s Freestyle Championships!

June 1, 2025
Looking Back at the Good Old Days of Growth Under Biden – Bloomberg.com

Looking Back at the Good Old Days of Growth Under Biden – Bloomberg.com

June 1, 2025
Why Starz Entertainment Stock Soared Today – The Motley Fool

Unpacking the Surge: What Fueled Starz Entertainment’s Stock Explosion Today!

June 1, 2025
White House acknowledges problems in RFK Jr.’s ‘Make America Healthy Again’ report – AP News

White House Admits Flaws in RFK Jr.’s ‘Make America Healthy Again’ Report

June 1, 2025
N.Y. landlords, lawmakers to face off over expanding upstate rent control – Spectrum News

Showdown Ahead: N.Y. Landlords and Lawmakers Clash Over Expanding Rent Control Upstate!

June 1, 2025
This giant microwave may change the future of war – MIT Technology Review

Revolutionizing Warfare: The Impact of a Game-Changing Giant Microwave

June 1, 2025
EA SPORTS™ College Football 26 Launches Worldwide on July 10 Celebrating Emerging Stars, Real-world Coaches and the Spirit of College Football – Electronic Arts Home Page

Get Ready for EA SPORTS™ College Football 26: Launching Worldwide on July 10 to Celebrate Rising Stars and the Heart of College Football!

June 1, 2025

Categories

Archives

June 2025
MTWTFSS
 1
2345678
9101112131415
16171819202122
23242526272829
30 
« May    
Earth-News.info

The Earth News is an independent English-language daily published Website from all around the World News

Browse by Category

  • Business (20,132)
  • Ecology (657)
  • Economy (672)
  • Entertainment (21,578)
  • General (15,254)
  • Health (9,714)
  • Lifestyle (674)
  • News (22,149)
  • People (673)
  • Politics (680)
  • Science (15,892)
  • Sports (21,176)
  • Technology (15,659)
  • World (660)

Recent News

Climate scientists are hosting a 100-hour YouTube livestream in response to Trump’s research funding cuts – Space

Climate scientists are hosting a 100-hour YouTube livestream in response to Trump’s research funding cuts – Space

June 1, 2025
YouTube Science Star Derek Muller Confronts PFAS “Forever Chemicals”—In His Own Blood – Scientific American

YouTube Science Sensation Derek Muller Takes on PFAS “Forever Chemicals” Found in His Own Blood!

June 1, 2025
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

Go to mobile version