Stitch Raises $25m in Series A Funding Round
Stitch, a leading fintech company, recently secured $25m in a Series A funding round. This monumental investment was led by Andreessen Horowitz, also commonly referred to as a16z. This marks a16z’s first-ever investment in the Gulf Cooperation Council (GCC), bringing Stitch’s total funding to an impressive $35m to date.
Participation of Notable Investors
Other investors who participated in this round include Arbor Ventures, COTU Ventures, Raed Ventures, and SVC, all of whom had previously backed the company. Alex Rampell, a general partner at Andreessen Horowitz, expressed his excitement about the investment, stating that Stitch’s modern and unified system of record is a game-changer for financial institutions burdened by outdated infrastructure.
About Stitch’s Infrastructure
Stitch specializes in developing software infrastructure for financial institutions. Its system, which covers lending, cards, payments, and ledger functions, is cloud-based. This allows institutions to implement it in stages, providing a more feasible alternative to completely replacing existing systems all at once. The platform was designed by a team with extensive experience at NPCI, FIS, Barclays, Santander, and Azentio.
Stitch’s Growth and Expansion
Over the past six months, transactions processed through Stitch have surpassed the $5bn mark. The company’s customer base grew tenfold in 2025, with its revenue experiencing a twentyfold increase during the same period. Stitch operates within the GCC, Africa, including countries like Egypt and Kenya, and Southeast Asia. Its clientele includes notable names like Raya Financing, LuLu Exchange, Noqodi, and Foodics.
Utilizing the Fund
The newly acquired funds will be used to support product development and expand Stitch’s presence throughout the GCC and the wider MENA region. Additionally, the funds will be used to bolster the company’s international go-to-market operations. Stitch’s founder and CEO, Mohamed Oueida, stressed the importance of replacing outdated infrastructure in financial institutions. “We built Stitch to fix that,” he said, expressing his pride in having Andreessen Horowitz as a supporter.
Stitch’s Acquisition
In July 2025, Stitch Group made a strategic acquisition, purchasing 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 this designation.
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