Stitch Raises $25 Million Series A Led by Andreessen Horowitz in First GCC Investment

Riyadh-based fintech Stitch has raised $25 million in a Series A funding round led by Andreessen Horowitz (a16z), marking the Silicon Valley firm’s first investment in the Gulf Cooperation Council (GCC), the company said on Wednesday.

The round, which brings Stitch’s total funding to $35 million, also drew participation from existing investors Arbor Ventures, COTU Ventures, Raed Ventures and Saudi Venture Capital (SVC).

Stitch provides a cloud-native platform designed to serve as a unified infrastructure layer for financial institutions, spanning lending, cards, payments and ledger systems. The company aims to help banks and fintechs modernize legacy systems and enable faster adoption of artificial intelligence.

Financial institutions globally continue to rely on fragmented infrastructure despite heavy spending on digital transformation, creating a bottleneck for innovation, particularly in deploying AI capabilities, Stitch said.

“Financial institutions globally run on fragmented, legacy infrastructure that should have been left behind 20 years ago,” said founder and CEO Mohamed Oueida. “Now every institution wants to adopt AI, but AI on top of broken infrastructure is a dead end.”

The company reported that more than $5 billion has been processed on its platform over the past six months, with customer numbers growing tenfold in 2025 and revenue increasing twentyfold over the same period.

Stitch operates across the GCC, Africa — including Egypt and Kenya — and Southeast Asia. Its clients include Raya Financing, LuLu Exchange, Noqodi and Foodics.

Andreessen Horowitz said the investment reflects growing demand for modern financial infrastructure in emerging markets.

“Financial institutions are sitting on decades of infrastructure debt, and that debt is now the single biggest obstacle to AI adoption,” said Alex Rampell, general partner at a16z.

Stitch said it will use the proceeds to accelerate product development, expand across the GCC and wider Middle East and North Africa region, and grow its global go-to-market operations.