Stitches Secures $50M Financing to Support Global Expansion

Esther Oluku 

African fashion retail platform, Stitches Africa, has secured US$50 million in funding to support its global expansion. This fund will boost its production financing, logistics development, and strategic product portfolio growth.

Speaking at the signing ceremony in Lagos, Stitches Africa Co-founder, Franklin Peters, explained that the financing is being led by JF Advisory Group with Cedrus Trustees Limited serving as Custodian and Transaction Trustee.

The investment, he said, will also enable Stitches Africa to scale its platform across key global corridors, “while providing financing to designers, tailors, and fashion entrepreneurs within its ecosystem.”

Peters stated that with over four million Africans living in the United States alone, and with millions more living across Asia, Dubai, Europe, and Australia amongst others, Stitches Africa targets a huge diaspora market leveraging its AI powered measuring technology to connect Africans in diaspora with some of the most skilled designers on the continent.

In her remarks, the Head of Legal at Stitches Africa, Ntishorkara Monkom, said that the company is building the future of African fashion commerce value chain and connecting African creativity to global markets.

“This financing demonstrates a strong confidence in the business model and the scale of opportunity Africa represents,” she said.