Cape Town-based fintech start-up Stitch last month caught the attention of many when it announced it was raising R1-billion (US$55-million) in a significant series-B funding round.
Co-founder and CEO Kiaan Pillay is our guest in this episode of the TechCentral Show, where he tells TechCentral editor Duncan McLeod about the funding round, which was led by QED Investors with participation from a range of new and existing investors — including well-known South African comedian Trevor Noah.
The latest round brings Stitch’s total funding to date to nearly R2-billion, or $107-million.
In this episode of the TechCentral Show, Pillay unpacks:
- His background and why and how Stitch was founded;
- How Noah became one of the participating funders in the latest funding round;
- What Stitch is doing differently to other fintech and payment start-ups that has allowed it to raise the quantum of funding that it has;
- The significance of Stitch’s recent acquisition of Exipay – and why it’s important for Stitch to be a player in the in-person payments market;
- Stitch’s plans in the cryptocurrency space; and
- Why the company is focused (for now) on the South African market.
Don’t miss a great discussion!
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