Kiaan Pillay on fintech start-up Stitch and its R1-billion funding round

A fintech start-up based in Cape Town caught people's attention when it announced it was raising r1-billion {US$55-MILLION} in a significant series-B funding round.

The CEO and Co-founder Kiaan Pillay appeared as a guest on the episode of the TechCentral Show, where he had a chat with the TechCentral editor Duncan McLeod with regard to the funding round, which was led by QED Investors with participation from a range of new and existing investors which includes South African comedian Trevor Noah.

The latest round brings Stitch’s total funding to date to nearly R2-billion, or $107 million.

On the episode of the TechCentral Show, Pillay unpacked:

• 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.