Stitch bags $25m to modernise financial infrastructure

By Parth Prabhudesai

Stitch has raised $25 million in a Series A funding round led by Andreessen Horowitz, marking the venture capital firm’s first investment in the Gulf Cooperation Council (GCC) region.

The round also included participation from existing investors Arbor Ventures, COTU Ventures, Raed Ventures, and SVC. The latest investment brings Stitch’s total funding to $35 million.

Founded to modernise financial infrastructure for banks and financial institutions, Stitch provides a cloud-native platform covering lending, payments, cards, and ledger systems. The company aims to help institutions replace fragmented legacy infrastructure and accelerate AI adoption through unified data and operational systems.

Mohammed Owaida, Founder and Chief Executive Officer of Stitch, said many financial institutions continue to rely on outdated infrastructure that limits their ability to effectively deploy AI technologies.

“Today, institutions want to adopt AI, but they are trying to build these technologies on top of infrastructure that is not designed for it and will not deliver the intended outcomes,” Owaida said.

The company reported that transactions processed through its platform exceeded $5 billion over the past six months. Stitch also said it expanded its customer base tenfold during 2025 while increasing revenues by 20 times over the same period.

Stitch currently operates across GCC markets, Egypt, Kenya, and Southeast Asia, serving clients including Raya Financing, Lulu Exchange, Nuqodi, and Foodics.

Alex Rampell, General Partner at Andreessen Horowitz, said legacy infrastructure had become a major obstacle to AI adoption within the financial sector.

“What Stitch is building — a modern unified system — is what will make everything else possible,” Rampell said.

The new funding will be used to accelerate product development, strengthen the company’s regional presence across GCC and MENA markets, and support global expansion plans.