South African fintech Stitch, which has built an “end-to-end payments solution designed to meet the complex and evolving payments needs for its enterprise clients,” has raised US$25 million in an extension round of funding led by global fintech investor Ribbit Capital, bringing Stitch’s total Series A to US$46 million.

Kenya’s Lipa Later, a fintech platform founded to empower African businesses to do more by enabling e-commerce, financial inclusion, and shopping on a centralised and fully integrated platform, has raised KES500 million (US$3.4 million) from a privately-placed debt issuance to help it expand its offerings.