Stitch
Riyadh-based fintech infrastructure company that gives banks, fintechs and enterprises a single API-driven platform for lending, cards, payments, wallets and ledgers. Andreessen Horowitz led its USD 25 million Series A in May 2026.
Industry: Banking and payments infrastructure | Location: Riyadh, Saudi Arabia | Founded: 2022 | Total Funding: USD 35M (as reported)
About Stitch
Stitch is a fintech infrastructure company headquartered in Riyadh, Saudi Arabia. It sells banks, fintechs and non-financial enterprises a unified, API-driven platform for building and launching banking and payment products. Its website lists six domains on one integration: ledgers, cards, lending, deposits, wallets and payments. Wamda describes the product as a cloud-native operating system for financial institutions that can be adopted module by module, and the company says clients can launch products up to 80 percent faster, going live in 90 days against nine to twelve months with traditional providers.
Stitch was founded in 2022 by Mohamed Oueida, who is its founder and chief executive. In an Arab News interview in May 2026, Oueida argued that competition in Saudi fintech is moving from consumer apps to the infrastructure beneath them, and said the company would measure success at the end of 2026 by the number of institutions running production systems on its platform.
The company named Lulu Exchange, Alamoudi Exchange, Foodics, Dar Al Tamleek and Tanmeya Capital as clients in 2025. Wamda and TechScoop added Raya Financing and Noqodi in May 2026. Stitch said in 2025 that it had launched for clients in Saudi Arabia and the UAE, with clients in Eastern Africa starting with Kenya; Wamda reported in 2026 that it also serves Egypt.
On 28 May 2025 Stitch announced a USD 10 million seed round backed by Arbor Ventures, COTU Ventures, Raed Ventures and the Saudi Venture Capital Company and angel investors. On 14 May 2026 it announced a USD 25 million Series A led by Andreessen Horowitz, the firm's first investment in the GCC, with the four existing investors taking part. Total funding is USD 35 million and the valuation was not disclosed.
In May 2026 the company said it had processed more than USD 5 billion in transactions over the previous six months and that customers grew tenfold and revenue twentyfold in 2025. It plans to use the new capital to accelerate product development and expand across the GCC and wider Middle East.
Leadership
- Mohamed Oueida, Founder