Based in the Kingdom of Saudi Arabia stitch It has raised $25 million in a Series A funding round to develop its operating system for modern financial institutions.
The company will use the new funding to accelerate product development, deepen its presence across the GCC and MENA region, and expand its global operations in the market, the company said on Thursday (May 14). press release.
Stitch was founded in 2022 and announced a $10 million valuation Seed round In May 2025.
The company’s platform is designed to replace financial institutions’ legacy and fragmented platforms with a modern, AI-ready scoring system, according to Thursday’s press release.
Although the platform provides a single cloud stack that includes lending, cards, payments and ledgers, it can be adopted module by module so that financial institutions do not have to replace their existing infrastructure all at once.
Stitch operates across the GCC, Africa and Southeast Asia, and has seen more than $5 billion worth of transactions on its platform in the past six months alone, according to the statement.
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Stitch Founder and CEO Muhammad Awaida Financial institutions want to embrace AI but cannot do so on top of fragmented legacy infrastructure, he said in the statement. “We built Stitch to fix that,” Aweida said.
Alex Rumblegeneral partner in Andreessen Horowitzwhich led the funding round, said in the statement: “What Stitch is building, a modern, unified scoring system, is what makes everything else possible.”
Rampell W James da Costapartner at Andreessen Horowitz, wrote on Wednesday (May 13). Blog post Middle Eastern countries are expanding their financial services systems as they look to grow beyond oil, and Saudi Arabia plans to add hundreds of new financial institutions over the next five years. These institutions will need core banking software, creating a “new opportunity” for a company like Stitch.
“We are thrilled to lead Stitch’s Series A and honored to make this our first investment in Saudi Arabia,” Rumble and Da Costa wrote in the post. “After years of building conviction around the opportunities of global fintech infrastructure, we believe Stitch represents the clearest expression we have found of what the next generation of this infrastructure will look like.”
