The information
- Sew has secured further funding of $55 million.
- The funding goals to assist Sew’s growth efforts and strengthen its place within the African fintech panorama.
- The fintech beforehand raised $46 million in enterprise capital.
South African fintech firm Sew has secured a further $55 million in funding to boost its end-to-end cost options for companies throughout Africa. This strategic transfer is about to bolster Sew’s function within the continent’s quickly evolving funds panorama.
African enterprise agency Raba Partnership contributed $4.2 million to this spherical, highlighting the agency’s continued confidence in Sew.
Based in 2019 by Kiaan Pillay, Natalie Cuthbert, and Priyen Pillay and headquartered in Cape City, Sew affords a unified funds platform that allows companies to handle transactions seamlessly throughout a number of monetary establishments. By simplifying the mixing course of, Sew permits firms to supply numerous cost choices, thereby bettering buyer expertise and operational effectivity.
Sew has demonstrated a powerful monitor file in securing investments to gasoline its progress. In February 2021, the corporate raised $4 million in seed funding, adopted by a $2 million seed extension in October 2021 to assist its growth into Nigeria. In February 2022, Sew introduced a $21 million Collection A funding spherical led by The Spruce Home Partnership, with participation from PayPal Ventures and different notable buyers. In October 2023, the corporate secured a $25 million Collection A extension led by Ribbit Capital, bringing its complete Collection A funding to $46 million.
Moreover, in January 2025, Sew acquired Exipay, a cost answer supplier, marking its entry into the in-person funds market. The acquisition led to the rebranding of Exipay’s platform as “Sew In-Particular person Funds,” tailor-made to cater to giant enterprises managing in-person transactions.
As the corporate continues to develop its product choices and lengthen its attain, its impression on the African funds ecosystem is anticipated to be substantial. Sew’s efforts exemplify the transformative potential of fintech improvements in addressing the distinctive challenges and alternatives inside Africa’s monetary panorama.
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