Last year, Stitch announced a $4 million seed round, which extended to $6 million, and it wants to do its part in helping other fintech startups to get off the ground and grow and raise funds to accelerate their businesses.
According to the CEO, there is a group of founders and operators that have built fintech and infrastructure products globally, who have shown interest in the continent. He considers the startup fortunate to have had some of them as"angel investors". "Today, even though we're sitting in South Africa, we have access to a really amazing network in Silicon Valley, Europe, and across the continent," said Pillay who is keen on playing an active role in helping grow other early-stage fintech startups.Stitch API is a South African fintech startup that makes it easier for businesses to connect to their users' financial accounts so they can access account information , transaction history, and balance data .
The company launched last year February and recently went live in Nigeria. It has so far seen 50% month-on-month customer growth,"a 3.3x MoM increase" in linked financial accounts on the platform, and 15% month-on-month growth in payments processed.