Key Takeaways:
- Stitch raised up $25 million in its Series A round led by Andreessen Horowitz (a16z), the first venture to invest in Stitch in Saudi Arabia
- According to reports, Stitch has processed more than $5 billion worth of transactions on its platform over the past six months, which saw revenue increase by 20 times in the year 2025
- The company is working on the API-based infrastructure to enable the launch of tokenized, and AI-ready, financial products faster for banks and fintech
Global venture capitalists are probing how much deeper crypto-centric infrastructure investment can go in the Middle East in search of the next big financial rail. Enquiry investors in Banking, Cryptocurrency, Blockchain, and Metals sector has increased and the investors demand for blockchain compatible banking systems that are linked to real world financial activity has been growing.
a16z Makes First Saudi Arabia Bet With Stitch
Riyadh-based fintech Stitch announced a $25 million Series A led by Andreessen Horowitz, bringing the company’s total funding to $35 million. Existing backers including Arbor Ventures, COTU Ventures, Raed Ventures, and SVC also joined the round.
Stitch raised a $25M Series A, led by @a16z, with continued backing from Arbor, COTU, Raed, and SVC.
Grateful to our customers, who trust us with the systems that run their business.
Financial institutions still run on infrastructure that should have been left behind 20 years… pic.twitter.com/XgvVqdNKK6
— Mohamed Oueida (@MoOueida) May 14, 2026
The deal stands out because it marks a16z’s first investment in the GCC region. The venture giant said Stitch represents a new generation of financial infrastructure built for digital assets, AI integration, and programmable finance.
According to a16z, more than $5 billion has already been transacted through Stitch’s platform in the last six months alone. The firm also claimed customer growth increased 10x in 2025, while revenue climbed 20x during the same period.
Stitch is now active in regions of the GCC, Africa and Southeast Asia. It has a client base of financial institutions and payment companies like LuLu Exchange, Raya Financing, Noqodi, and Foodics.
Read More: a16z Makes Bold Asia Push: Opens Seoul Office as It Targets the World’s No.2 Crypto Market
Stitch Pushes API Infrastructure for Modern Finance
The company is developing an “OS for FI’s. It has an infrastructure stack that includes payment, card, lending, and ledger capabilities, along with workflow automation via modular APIs.
AI and Tokenization Are Driving Demand
Many of the banks are still on legacy systems that were implemented decades ago and thus hindered by the adoption of AI, said Mohamed Oueida, Founder CEO of the project. He contended that to truly incorporate the use of AI tools, financial companies must begin by enhancements in their fundamental layers of framework.
The story line is becoming more prevalent throughout the crypto and fintech space. The need for faster settlement systems and programmable financial architecture that works across jurisdictions across all tokenization platforms, stablecoin issuers and digital asset companies is only part of the story.
Stitch’s cloud-based model offers an incremental approach for institutions to modernize instead of an all-or-nothing scenario in order to replace an entire banking system. It could resonate with innovators at banks that are venturing into stablecoins, tokenization and settlement networks on the blockchain.
Middle East Crypto Infrastructure Race Accelerates
The fundraise also sheds light on the growing prominence of the Middle East in the digital asset infrastructure sphere. Both Saudi Arabia and UAE have taken measures to appeal to fintech and blockchain companies via regulatory measures and institutional partnerships.
Financial institutions across the world are grappling with “infrastructure debt,” meaning adoption and innovation with AI is slowing, a16z General Partner Alex Rampell said. He added that modern system-of-record platforms like Stitch could become critical for the next phase of financial technology.
Read More: Ripple Teams Up With Saudi Bank’s Jeel to Test Faster Blockchain Payments in Regulated Sandbox
