Financial technology company Stitch has closed a $25m Series A funding round led by Andreessen Horowitz, also known as a16z.
The transaction is a16z’s first investment in the GCC and takes Stitch’s total funding to $35m.
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Arbor Ventures, COTU Ventures, Raed Ventures and SVC, which had previously backed the company, also joined the round.
Andreessen Horowitz general partner Alex Rampell said: “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 honoured to make this our first investment in the region.”
Stitch develops software infrastructure for financial institutions.
Its system covers lending, cards, payments and ledger functions through a cloud-based platform that institutions can introduce in stages rather than replacing existing systems at once.
The platform was created by a team with experience at NPCI, FIS, Barclays, Santander and Azentio.
Over the past six months, transactions handled through Stitch exceeded $5bn.
The company customer base increased tenfold in 2025, while revenue rose twentyfold during the same period.
Stitch operates in the GCC, Africa, including Egypt and Kenya, and Southeast Asia. Its client list includes Raya Financing, LuLu Exchange, Noqodi and Foodics.
According to the company, the new funds will support product development, a broader presence across the GCC and the wider MENA region, and the expansion of its international go-to-market operations.
Stitch founder and CEO Mohamed Oueida commented: “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.
“We built Stitch to fix that, and we’re proud to have Andreessen Horowitz alongside us.”
In July 2025, Stitch Group acquired digital payments company Efficacy Payments for an undisclosed amount.
Founded in 2016, Efficacy became a clearing system participant in 2021, making it the second fintech in the country to receive that designation.
