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Key Points
- Stitch raises $55 million in Series B funding to expand in-person payment solutions, with backing from Trevor Noah, QED Investors, and other global fintech players.
- Trevor Noah's investment highlights the growing involvement of African creatives in tech, symbolizing the potential of African-founded startups in the global tech ecosystem.
- With $107 million in total funding, Stitch aims to challenge global payment giants with payment infrastructure tailored to the unique needs of African enterprise merchants.
Trevor Noah has become part of a growing wave of investors backing South African fintech companies, with his latest move into the payments sector through Stitch, a rapidly expanding provider that just raised $55 million in a Series B funding round. The funds will be used to enhance Stitch’s payment infrastructure, targeting enterprise merchants across Africa.
The $55 million round, led by global fintech investor QED Investors, attracted a diverse group of backers, including Trevor Noah. Other investors in the round include Flourish Ventures, Norrsken22, Glynn Capital, as well as returning supporters like PayPal Ventures, Ribbit Capital, and Firstminute Capital.
Noah invests where culture meets tech
Noah’s involvement as an angel investor is a testament to the growing overlap between Africa’s creative talent and the global tech investment scene. Known for his successful career in comedy and media, including hosting The Daily Show and authoring the bestselling memoir Born a Crime, Noah has increasingly expanded into philanthropy, media, and venture capital. His support not only strengthens Stitch’s standing in the fintech space but also highlights his role in bridging entertainment and technology investment.
With this new funding, Stitch plans to broaden its scope beyond online payments by enhancing in-person payment solutions. This follows the company’s acquisition of ExiPay and the introduction of acquiring services, further strengthening its position as a comprehensive payments provider. Over the past four years, Stitch has raised a total of $107 million, positioning the company to better serve enterprise merchants across Africa and beyond.
Gbenga Ajayi, Partner and Head of Africa and the Middle East at QED Investors, praised Stitch’s impressive growth in a competitive sector: “Stitch has consistently delivered world-class payment solutions, offering seamless and innovative experiences for global merchants. Their expansion from a PSP to a full-service payments partner, with robust in-person solutions, shows their ability to scale and meet evolving market demands.”
Trevor Noah's investment fuels Stitch’s growth
Since launching in February 2021, Stitch has quickly become a leading payments infrastructure provider for global merchants in Africa. The platform offers a range of solutions, including fraud prevention, automated routing for better conversions, 24/7 support, and customizable integrations to meet the complex needs of businesses.
Noah’s investment underscores the growing trend of African creative figures engaging in fintech, combining their entrepreneurial spirit with opportunities in the tech sector. Having grown up during apartheid in Johannesburg, Noah understands resilience and adaptability—values that mirror the entrepreneurial journey of companies like Stitch.
His support, both financial and symbolic, is a reminder of the global potential of African-founded tech startups. As Africa’s financial services landscape evolves, Stitch’s ability to deliver secure, scalable, and flexible solutions ensures its continued role as a major player in the region’s digital payments ecosystem.
