Stitch

What Stitch does

Stitch is a South African payments infrastructure company headquartered in Cape Town, founded in 2018 and operating as Stitch Money Proprietary Limited (registration 2018/409288/07). The company provides a unified platform spanning online payments, in-person payments, payouts, card acquiring, payment orchestration, embedded fraud detection, and — as of May 2026 — Buy Now Pay Later. Its core technology is the Stitch PayOS orchestration platform built on a GraphQL API architecture, which routes transactions across multiple direct bank and network integrations with automated failover (claimed 99.995% uptime), unified reconciliation, network tokenization, and dynamic 3DS. Stitch serves both enterprise merchants (via Stitch Enterprise with bespoke integrations and dedicated client success) and SMBs (via Stitch Express self-serve onboarding and plugins for Shopify, WooCommerce, Squarespace, and Webflow). Named enterprise customers include MTN, Vodacom, Takealot, FlySafair, Hollywoodbets, Mr D, Luno, Bash, The Courier Guy, and Betway, with "thousands" of total businesses on the platform and 6m+ South African consumers paying via Stitch.

The business model is transaction-based: Stitch earns Service Fees deducted from each transaction across card, Pay by Bank, EFT, crypto, BNPL and recurring payment methods (DebiCheck), with enterprise subscription revenue layered on top via Stitch Enterprise. Pricing is not publicly listed; fees vary by product, channel, and merchant. Following the July 2025 acquisition of Efficacy Payments (a SARB-designated acquirer), Stitch operates as a vertically integrated end-to-end card acquirer, earning fees inclusive of acquirer fees. Regulatory positioning is a core differentiator: Stitch holds ISO 27001 and PCI DSS Level 1 certifications and is a registered Third Party Payment Provider (TPPP) and System Operator with PASA in South Africa.

Capital and strategic posture: Stitch has raised $107 million across four funding rounds from a high-quality syndicate including QED Investors (Series B lead), Ribbit Capital (Series A extension lead), The Spruce House Partnership (Series A lead), PayPal Ventures, Flourish Ventures, Norrsken22, Glynn Capital, Firstminute Capital, CRE Ventures, and angel Trevor Noah. In 2025 the company executed two acquisitions (ExiPay for in-person payments in January; Efficacy Payments for card acquiring in July), launched a BNPL product in May 2026, and stated plans to expand into the US, UK and broader African markets beyond its existing Nigerian operations. The company maintains three subsidiaries (ExiPay, Efficacy Payments, WigWag) and operates single-country domestic distribution through direct sales, self-serve PLG, API/developer channels, e-commerce plugins, and white-label OEM partnerships.

Name

Stitch

Legal name

Stitch Money Proprietary Limited

Website

https://stitch.money

Company type

Private

Founded year

2018

Operating status

Operating

Headcount range

101–250 employees

Short description

Stitch is a South African payments infrastructure company providing a unified platform for online and in-person payments, card acquiring, payouts, orchestration, and BNPL, serving enterprise and SMB merchants across South Africa with plans for international expansion.

Ownership category

akta.pro rank

Product category

Payment Infrastructure

akta.pro primary industry

Integrated POS Payments (ISVs & Vertical POS Platforms) (FSAMADAD)

Keywords

• Payment infrastructure
• Payment orchestration
• Online payments processing
• In-person payments
• Card acquiring services

Headquarters

HQ city

Cape Town

HQ country

South Africa

HQ region

Africa

Offices2 records

Markets served

GTM type

B2B

Offering type

Software

Cost components

Technology or R&D, Personnel, Operations, Infrastructure, Marketing or Sales

Revenue model

1. Transaction Processing Fees: Primary revenue stream earned via Service Fees deducted from each transaction processed through the Stitch platform for both online and in-person payments. Fees vary by product (card, Pay by Bank, EFT, crypto, BNPL) and are accessible on the Stitch Express Dashboard.
2. Card Acquiring Revenue (via Efficacy Payments): Revenue from end-to-end card acquiring services offered through Stitch + Efficacy Payments, following the July 2025 acquisition of Efficacy Payments (a SARB-designated acquirer). Stitch operates as a System Operator and earns fees inclusive of acquirer fees.
3. Payouts & Disbursements Fees: Revenue from seamless, automated payouts (24/7, 365) including refunds, withdrawals, and disbursements enabled through the Stitch platform.
4. Enterprise Subscription & Platform Services: Enterprise-tier recurring revenue from bespoke integrations, 24/7 engineer-led tech support, dedicated client success, and omnichannel payment platform access under the Stitch Enterprise offering.
5. BNPL Transaction Revenue: Revenue from the newly launched Buy Now Pay Later product (May 2026) that allows shoppers to split purchases into 2-6 interest-free installments while merchants receive full transaction value within 24 hours minus fees.

Pricing tiers

Go-to-market motion4 records

Distribution channels5 records

Marketing channels11 records

Core offering

Stitch is a South African payments infrastructure company that provides a single platform unifying online and in-person payments, payouts, card acquiring, payment orchestration, and reconciliation for South African businesses. Its product suite includes a GraphQL-based payment API, plug-and-play e-commerce plugins, in-person POS devices, embedded fraud detection (Stitch Shield), BNPL, recurring payments (DebiCheck), and a unified reconciliation dashboard, offered through an Enterprise tier for large merchants and an Express tier for growing e-commerce and retail merchants.

Product overview

Stitch is a South African payments infrastructure company operating as a single platform that unifies online and in-person payments, payouts, card acquiring, payment orchestration and reconciliation for South African businesses of all sizes. Its offering combines a core platform (Stitch Enterprise for large, complex merchants and Stitch Express for growing e-commerce and retail merchants) with modular products including Stitch Online Payments, Stitch In-Person Payments, Stitch Payouts, Stitch Card Acquiring (via the acquired Efficacy Payments), Stitch Payment Methods, Stitch PayOS (orchestration), Stitch Shield (embedded fraud solution), Payments Optimisation, Buy Now Pay Later and Recurring Payments/Collections. Supporting these is the Stitch API, a GraphQL-based developer platform with a Stitch IDE for testing integrations, plus e-commerce plugins for Shopify, WooCommerce, Squarespace and Webflow. The WigWag subsidiary extends the platform to SMEs.

Differentiator

Problem solved

Functional benefit

Brands

• Stitch Express: Payment services product for small, medium and e-commerce businesses with a curated selection of Stitch's payment services.
• Stitch Enterprise
• Stitch PayOS

Products and services

• Stitch Online Payments Payment gateway built for enterprise scale that enables South African businesses to offer multiple online payment methods via flexible integration options including e-commerce plugins.
• Stitch In-Person Payments Plug-and-play in-person payments API and Terminal Management System enabling businesses to accept card-present and alternative payment methods at POS via terminal, QR code, NFC, and more; works with any existing device or acquiring bank.
• Stitch Payouts

Quantifiable outcome

• 99.995% platform uptime
• +6 more outcomes

Named customers20 records

Segments5 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration8 records

AI capability4 records

Feature7 records

Partnerships

Nine partnerships are on record, tiered core and flagship.

• FlySafaircoreTechnology or Integration · 1 March 2026FlySafair introduced Apple Pay and Google Pay payment options in its mobile app, powered by Stitch, enabling one-tap payment for flight bookings. Website rollout planned for later.
• Efficacy PaymentsflagshipStrategic or Co-development Partner · 1 July 2025Acquired by Stitch in July 2025 to enable end-to-end card acquiring services in South Africa without relying on banks or third-party processors. Efficacy Payments (registration 2016/008667/07) is designated by the South African Reserve Bank (SARB) to acquire debit and credit Card Transactions. Stitch operates Stitch + Efficacy Payments as a vertically integrated offering.
• ExiPayflagshipStrategic or Co-development Partner · 1 January 2025Acquired by Stitch in January 2025 to integrate online and offline payments into a unified platform. ExiPay is a provider of in-person payment solutions in South Africa. The acquisition enables Stitch to expand its product offerings and meet growing demand for integrated payment solutions in the retail sector, while controlling its technology stack.
• AB InBevcoreGTM or Marketing Partner · 1 October 2023Collaborated with Stitch on the third annual Scale Summit event held in Johannesburg on October 3, focusing on consumer behavior and payments innovation.
• VodapayflagshipOEM/ Whitelabel/ Licensing PartnerWhite-label partnership with Stitch providing secured tokenisation and payment infrastructure for Vodapay's mobile payments platform.
• ShopifycoreTechnology or IntegrationE-commerce plugin enabling merchants to accept Stitch payments directly on Shopify storefronts.
• WooCommercecoreTechnology or IntegrationE-commerce plugin enabling merchants to accept Stitch payments directly on WooCommerce storefronts.
• SquarespacecoreTechnology or IntegrationE-commerce plugin enabling merchants to accept Stitch payments directly on Squarespace storefronts.
• WebflowcoreTechnology or IntegrationE-commerce plugin enabling merchants to accept Stitch payments directly on Webflow storefronts.

Scale indicators11 records

Recent moves8 records

Expansion highlights6 records

Market position

Strengths1 record

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/stitchmoneyhq
• YouTubeyoutube.com/channel/UCgfhOBgBt_X4ghYxq2LWwaA
• LinkedInlinkedin.com/company/stitchmoney
• Instagraminstagram.com/stitchmoneyhq

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Subsidiaries3 records

Funding overview

Funding rounds5 records

Investors27 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A2 records

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Stitch