What if building financial products was as simple as launching a website? That’s the future Stitch is creating. This Saudi Arabia-based fintech infrastructure startup just raised a staggering $10 million seed round, aiming to disrupt traditional banking tech in the Middle East and East Africa. Let’s explore how this trailblazing company plans to reshape the financial landscape.
Breaking Barriers: $10M in Seed Funding
Stitch has caught the attention of global investors like Arbor Ventures, COTU Ventures, Raed Ventures, and Saudi Venture Capital (SVC). This round also includes key figures such as Jason Gardner, founder of Marqeta, and Abdulmalik AlSheikh, a pioneer behind payment networks like mada and Sadad.
This investment is a vote of confidence in Stitch’s ability to tackle outdated banking systems and deliver modern, scalable financial solutions.
What Makes Stitch Different?
Built for Speed and Scale
Founded in 2022 by Mohamed Oueida, Stitch provides a unified, API-driven platform that enables banks, fintechs, and large enterprises to roll out modern financial products 80% faster than traditional methods.
Regional Focus, Global Ambition
Initially serving clients in Saudi Arabia and the UAE, Stitch is already expanding into East Africa, beginning with Kenya. Their mission? Empower institutions across emerging markets to deploy innovative solutions without the friction of legacy systems.
The Bigger Picture: Why This Matters
The global BFSI market is booming, expected to more than double by 2033 to $221.39 billion. In Saudi Arabia alone, banking assets are valued at $1.12 trillion, with digital payments skyrocketing by 75% between 2019 and 2021.
But innovation in this space has been stifled by outdated infrastructure, until now. Stitch is providing the technological leap needed to bridge this gap.
Trusted by Leading Enterprises
Top names like Lulu Exchange, Foodics, Dar Al Tamleek, and Raya Financing are already using Stitch’s technology to launch bespoke financial solutions. The platform’s simplicity, flexibility, and speed make it a go-to choice for forward-thinking organizations.
Industry Leaders Weigh In
“Stitch isn’t just replacing legacy systems, it’s defining a new gold standard for fintech infrastructure.”
, Wael Nafee, Raed Ventures
“Their global-ready platform is built with local realities in mind. That’s a rare and powerful combination.”
, Khaled Lababidi, Arbor Ventures
Conclusion: The Fintech Infrastructure of Tomorrow
Stitch is more than a startup, it’s a movement towards smarter, faster, and more inclusive financial systems. With $10M in fresh capital, the company is set to transform how financial services are developed in the Middle East, East Africa, and beyond.
If you’re a fintech leader looking to build the future, Stitch just might be your next partner.
