Stitch is a South African startup specializing in financial infrastructure technologies. It was founded by Kiaan Pillay, Natalie Cuthbert, and Priyen Pillay. Its goal is to provide full API access to financial accounts across Africa from its primary market, South Africa. Thanks to the $4 million it recently raised, the young company will be able to accelerate its efforts to get there.
This fundraising also makes it the fintech API that has raised the most funds in Africa so far, after Okra, Mono, OnePipe, and Pngme. Stitch will be able to better help developers connect their applications to financial accounts. A process that allows users to share their transaction history and balances, confirm their identity, and initiate payments.
Read also: Deya tech startup secures $500k pre-seed funding
Investors in this seed round led by London-based VC firm, firstminute Capital and U.S.-based investment firm, The Raba Partnership, include CRE and Village Global, Norrsken (a fund by Klarna co-founder Niklas Adalberth), Future Africa (a fund by Flutterwave co-founder Iyinoluwa Aboyeji) and 500 Fintech.
Apply For Funding GetFundedAfrica provides equity capital from $1,000 to $50,000. For larger amounts (Above $50,000) we organize syndicated funding rounds of up to $500,000. Apply Here
Other angel investors, such as Venmo co-founder Iqram Magdon-Ismail, some founding members at Plaid, and executives at Coinbase, Revolut, Fast, and Paystack also joined.
Like Plaid in the United States, Tink in Europe, and Belvo in Latin America, Stitch wants to establish its dominance throughout the African continent. the startup will achieve this by enabling businesses and developers to innovate around other services such as personal finance, loans, insurance, payments, and wealth management.
Read original article here
