Cape Town – July 2025 – Leading South African fintech Stitch has taken a significant step into offline payments by acquiring ExiPay, a provider of point-of-sale solutions. Simultaneously, Stitch closed a $55 million Series B financing round, bringing its total fundraising to approximately $107 million. The dual moves underscore the company’s commitment to deepen market penetration and broaden its fintech infrastructure across southern Africa.

From Digital Rails to Brick-and-Mortar Presence

Stitch started as a developer of digital payment infrastructure for apps and online platforms, enabling financial accounts linking, payouts, and on‑chain and off‑chain transactions. The acquisition of ExiPay gives Stitch a foothold in physical retail and service environments, enabling merchants to accept cards, mobile money, and QR-based payments. This bridges the digital and analog economies, enabling a seamless omnichannel payments experience across emerging markets.

Financing a Future of Embedded Payments

The fresh $55 million Series B round builds on investors’ confidence in Stitch’s growth trajectory and regional ambitions. The round attracted new strategic backers alongside existing supporters from earlier rounds. The capital will be channeled into:

  • Scaling offline payments through expanded distribution of ExiPay terminals and software

  • Deepening developer tools and APIs to enhance Stitch’s digital payment services

  • Extending regional reach, with focus on high-growth markets like Kenya, Nigeria, and parts of southern Africa

This funding round, combined with the acquisition, positions Stitch to evolve into a comprehensive payments platform across Africa.

Why ExiPay Fits the Puzzle

By integrating ExiPay, Stitch gains:

  • Point-of-sale hardware and software, enabling merchants to process payments in-store

  • Offline and low-connectivity capabilities, crucial in areas with unreliable internet

  • Enriched data capture, providing merchants with better insights into sales patterns and customer behavior

This merger of offline and digital payments mechanisms supports a cash-to-digital transition, especially for SMEs and informal traders.

Stitch’s Competitive Edge and Market Opportunity

With nearly $107 million in cumulative funding, Stitch ranks among the best-funded fintech infrastructure firms in the region. By offering both online APIs and offline terminal services, it differentiates itself from wallet-only competitors and digital-first startups.

Africa’s cash-heavy transactions—especially in urban and peri-urban centers—signal a significant opportunity: Stitch now delivers a unified stack for payments across all channels, from mobile apps to physical kiosks.

Roadmap to Scale and Integration

Stitch plans to:

  1. Deploy ExiPay terminals across major retail chains, micro-merchants, and informal markets

  2. Unify developer experience, ensuring seamless integration between online and offline payment flows

  3. Pursue cross-border expansion, targeting strategic rollouts in Nigeria, Kenya, and East Africa

These efforts are expected to solidify Stitch’s role as a regional payments backbone.

Bottom Line

Stitch’s acquisition of ExiPay and its $55 million Series B round mark a pivotal moment in its evolution from a digital-first payments API provider to a full-spectrum fintech infrastructure player. By blending online and offline capabilities—and backed by substantial capital—the company is well-positioned to lead Africa’s transition toward unified, accessible, and inclusive digital payments.