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.
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. 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.
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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.
Charles Rapulu Udoh
Charles Rapulu Udoh is a Lagos-based lawyer who has advised startups across Africa on issues such as startup funding (Venture Capital, Debt financing, private equity, angel investing etc), taxation, strategies, etc. He also has special focus on the protection of business or brands’ intellectual property rights ( such as trademark, patent or design) across Africa and other foreign jurisdictions.
He is well versed on issues of ESG (sustainability), media and entertainment law, corporate finance and governance.
He is also an award-winning writer
Stitch South African startup