Stitch is a fintech startup that offers API access to bank accounts in Africa.
Stitch's goal is to help fast-growing fintech and embedded finance companies more easily launch increasingly innovative and tailored products, expand into new markets and optimize their solutions – so they can grow even faster.
Stitch was founded in 2019 by Kiaan Pillay, Natalie Cuthbert and Priyen Pillay. The company is headquartered in Cape Town, Western Cape, South Africa.
The Stitch API allows developers to connect apps to financial accounts within minutes, allowing their users to share their transaction histories and balances, confirm their identities, and initiate payments.
Stitch platform’s data, and identity products allow businesses to access customer transaction histories and balance data, verify account information, and perform fraud checks. The payments product enables bank-to-bank transfers for one-click pay-ins and payouts.
Stitch is on track to facilitate $10 million in monthly payments by the end of the year. Some of its clients include Chipper Cash, Luno, Paystack, Franc, Sanlam, Yoco and Flexclub.
Stitch is backed by The Spruce House Partnership, PayPal Ventures, Firstminute Capital, TrueLayer, The Raba Partnership, CRE, Village Global, 500 Fintech, Future Africa, and others. The company raised $21M in Series A round on Feb 14, 2022. This brings Stitch's total funding to $27M to date.