Stitch announced it has raised $25 million in Series A funding led by Andreessen Horowitz, marking the venture firm’s first investment in the GCC region. The funding round brings Stitch’s total funding to $35 million. Existing investors Arbor Ventures, COTU Ventures, Raed Ventures, and SVC also participated in the round.
Headquartered in Riyadh, Stitch describes itself as an operating system built for modern financial institutions. The company provides a cloud-native platform spanning lending, cards, payments, and ledgers, enabling banks and financial institutions to modernize infrastructure gradually without replacing existing systems all at once.
Stitch was founded by operators with experience at organizations including National Payments Corporation of India, FIS, Barclays, Santander, and Azentio. The company said its infrastructure platform is designed to provide financial institutions with a unified system of record that can support AI adoption and digital transformation initiatives.
According to Stitch, more than $5 billion has been transacted on the platform during the last six months. The company also said customer numbers increased 10x in 2025 while revenue grew 20x over the same period.
Stitch currently operates across the GCC, Africa, including Egypt and Kenya, as well as Southeast Asia. Customers include Raya Financing, the lending arm of Hyundai and Peugeot, along with LuLu Exchange, Noqodi, and Foodics.
The company said the new funding will be used to accelerate product development, expand its presence across the GCC and broader MENA region, and grow its global go-to-market operations.
KEY QUOTES:
“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. We built Stitch to fix that, and we’re proud to have Andreessen Horowitz alongside us.”
Mohamed Oueida, Founder & CEO, Stitch
“Financial institutions are sitting on decades of infrastructure debt, and that debt is now the single biggest obstacle to AI adoption. What Stitch is building, a modern, unified system of record, is what makes everything else possible. We’re excited to support them, and honored to make this our first investment in the region.”
Alex Rampell, General Partner, Andreessen Horowitz
