Stitch raises $25m Series A led by Andreessen Horowitz

By Aarav Garg

Riyadh-based FinTech Stitch has raised $25 million in a Series A funding round led by Andreessen Horowitz, marking the venture firm’s first investment in the Gulf Cooperation Council (GCC) region. Existing investors including Arbor Ventures, COTU Ventures, Raed Ventures and SVC also participated in the round, bringing Stitch’s total funding to $35 million.

The company is positioning itself as a unified infrastructure platform for financial institutions seeking to modernise legacy banking systems and prepare for AI-driven operations. Stitch provides a cloud-native technology stack spanning lending, payments, cards and ledger infrastructure, allowing banks and financial institutions to modernise systems incrementally rather than through large-scale core replacements.

“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,” said Mohamed Oueida, founder and CEO of Stitch. “We built Stitch to fix that, and we’re proud to have Andreessen Horowitz alongside us.”

The fundraising comes as banks globally continue to invest heavily in digital transformation, while many still operate on fragmented and ageing infrastructure. Increasing interest in AI adoption across financial services is also pushing institutions to reassess the quality and interoperability of their core systems, particularly around data management and transaction processing.

“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,” said Alex Rampell, General Partner at Andreessen Horowitz.

Its client base includes lenders, exchange houses and digital financial service providers across multiple markets. The newly raised capital will be used to accelerate product development, expand regional operations across the GCC and wider Middle East and North Africa region, and support broader international growth initiatives.