South Africa: Ribbit Capital backs Stitch's $25m funding round

South African payments technology company Stitch has announced the close of its $25 million Series A Extension round, led by Ribbit Capital.

The company said in a statement, ”We launched our first payments product only two years ago. Today, we’re processing over 50 million payments annually, and over $2 billion in value, for some of the largest businesses operating in South Africa, including MTN, Multichoice, The Foschini Group (TFG)’s Bash, HollywoodBets, LottoStar, Luno, Yoco and many more.”

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