Stitch raises $25 million in Series A funding led by Andreessen Horowitz (a16z). Stitch, a Riyadh-based fintech platform, announced the investment, which marks a16z’s first in the GCC and brings Stitch’s total funding to $35 million. Existing investors Arbor Ventures, COTU Ventures, Raed Ventures, and SVC also participated in the round.
The platform operates as a unified infrastructure layer for financial institutions, offering a cloud-native stack spanning lending, cards, payments, and ledgers. Banks can adopt the system gradually, module by module, without replacing existing systems overnight. Over the last six months, more than $5 billion has been transacted on the Stitch platform, with customer numbers growing 10x and revenue growing 20x in 2025.
Infrastructure Gap and AI Adoption
Global financial institutions spend approximately $700 billion annually on technology, yet launching new products still takes years and system upgrades risk operational disruption. Despite $1 trillion in digital transformation spending over the last three years, institutions remain dependent on fragmented legacy infrastructure. As artificial intelligence reshapes industries, this infrastructure gap has become an existential challenge for financial adoption.
No financial institution can meaningfully adopt AI without a clean, reliable system of record to build upon. Stitch was designed by operators from NPCI, FIS, Barclays, Santander, and Azentio to address this foundation. By replacing fragmented cores with a modern system of record, the platform unlocks AI transformation that has been promised but unreachable without proper infrastructure.
Customer Base and Geographic Expansion
Stitch currently operates across the GCC, Africa including Egypt and Kenya, and Southeast Asia. Its customers include Raya Financing, the lending arm of Hyundai and Peugeot, as well as LuLu Exchange, Noqodi, and Foodics. The company plans to continue expanding to serve financial institutions worldwide.
Funding Deployment and Strategic Direction
Fresh capital will accelerate product development, deepen Stitch’s presence across the GCC and broader MENA region, and expand global go-to-market operations. Mohamed Oueida, founder and CEO of Stitch, said financial institutions globally run on fragmented legacy infrastructure that should have been replaced decades ago. He stated that Stitch was built to fix that foundation, positioning it as essential for institutions seeking to adopt AI effectively.
“Financial institutions globally run on fragmented, legacy infrastructure that should have been left behind 20 years ago. Now every institution wants to adopt AI, but AI on top of broken infrastructure is a dead end.”
Mohamed Oueida, Founder and CEO of Stitch
Alex Rampell, General Partner at Andreessen Horowitz, said financial institutions face decades of infrastructure debt that now represents the single biggest obstacle to AI adoption. He stated that Stitch’s modern unified system of record is what makes everything else possible, and that a16z is honored to make this their first investment in the region.
About the Investment Context
The investment represents a significant moment for the GCC’s tech ecosystem. With a16z backing, Stitch gains validation from one of the world’s most active venture capital firms, which manages over $90 billion across multiple funds. The timing aligns with global financial institutions increasingly recognizing the need to modernize core infrastructure before pursuing AI-driven transformation initiatives.
