The $21m raised in a round led by New York’s Spruce House Partnership will be used to develop new markets and products
Stitch builds financial infrastructure that links bank accounts, wallets and other stores of value. Picture: Bloomberg
Other new investors in Cape Town-based Stitch include PayPal Ventures, TrueLayer and Village Global. The company plans to use the cash to expand into new markets and products, co-founder and CEO Kiaan Pillay said. The company founded in 2019 builds financial infrastructure that links bank accounts, wallets and other stores of value. Some of its clients include pan-African money-transfer firm Chipper Cash, crypto platform Luno and mobile-payments firm Zapper.
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