Stitch Raises $25M Series A Led by Andreessen Horowitz
Stitch, a Riyadh-based financial operating system startup, has secured a $25 million Series A led by Andreessen Horowitz (a16z), its first investment in the GCC, bringing total funding to $35 million. The company claims its modular platform addresses legacy infrastructure debt in banks, enabling faster deployment of financial services and processing over $5 billion in transactions in the past six months across GCC, Africa, and Southeast Asia.
Stitch, a financial operating system designed for modern organizations, has closed a $25 million Series A funding round led by Andreessen Horowitz (a16z), marking the first investment by the Silicon Valley firm in the Gulf Cooperation Council (GCC). The round also included participation from existing investors Arbor Ventures, COTU Ventures, Raed Ventures, and the Saudi Venture Capital Company (SVC), raising Stitch’s total funding to $35 million. The company reported twentyfold revenue growth over the past year, driven by its cloud-native platform offering modular tools for lending, card issuance, payments, and ledgers. Based in Riyadh, Stitch targets financial institutions burdened by legacy systems, which it describes as an 'infrastructure debt' crisis. The lack of a unified system of record hinders innovation and complicates the integration of technologies like generative AI, according to the company. Stitch’s modular approach allows banks and fintechs to incrementally adopt modern solutions without full system overhauls, reducing implementation risks. The investment aligns with Saudi Arabia’s Vision 2030 push to position the Middle East as a global fintech hub. Stitch has already secured major clients, including Raya Financing, LuLu Exchange, and Foodics, processing over $5 billion in transactions in the last six months across GCC, Africa (Egypt and Kenya), and Southeast Asia. The Series A funds will accelerate global expansion and product development, with a focus on enabling financial institutions to deploy new services in as little as three months—compared to the traditional year-long process. Stitch’s platform claims to expedite product implementations by up to 80%, bridging the agility gap between legacy institutions and modern startups. The company’s vision is to become the foundational layer for financial software worldwide, addressing inefficiencies caused by outdated infrastructure. With the new funding, Stitch aims to strengthen its engineering capabilities and scale its operations beyond its current regional footprint.
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