{"id":3735450,"date":"2026-05-14T18:59:30","date_gmt":"2026-05-14T22:59:30","guid":{"rendered":"https:\/\/www.pymnts.com\/?p=3735450"},"modified":"2026-05-14T18:59:30","modified_gmt":"2026-05-14T22:59:30","slug":"saudi-fintech-stitch-raises-25-million-to-replace-fragmented-bank-cores","status":"publish","type":"post","link":"https:\/\/www.pymnts.com\/news\/fintech-investments\/2026\/saudi-fintech-stitch-raises-25-million-to-replace-fragmented-bank-cores\/","title":{"rendered":"Saudi FinTech Stitch Raises $25 Million to Replace Fragmented Bank Cores"},"content":{"rendered":"<p>Saudi Arabia-based <a href=\"https:\/\/www.stitch.co\/\">Stitch<\/a> raised $25 million in a Series A funding round to grow its operating system for modern financial institutions.<\/p><div\r\n\tid=\"article-paywall-overlay\"\r\n\tclass=\"d-none\"\r\n>\r\n\t<div id=\"article-paywall-content\" class=\"my-4\">\r\n\t\t\n<div class=\"wpcf7 no-js\" id=\"wpcf7-f2699550-o1\" lang=\"en-US\" dir=\"ltr\" 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<a class=\"fw-bold\" href=\"https:\/\/pymnts-com-develop.go-vip.net\/terms-conditions\/\">Terms and Conditions<\/a>.\n\t\t\t\t<\/p>\n\t\t\t\t<p><input id='hiddenPath' type='hidden' name='path' value='' \/><input type='hidden' name='userDeviceId' id='userDeviceId' \/><input type='hidden' name='pageTitle' id='pageTitle' \/>\n\t\t\t\t<\/p>\n\t\t\t<\/div>\n\t\t\t<div class=\"col-12\">\n\t\t\t\t<div id='formButtonRow' class='container mt-1 px-0'>\n\t\t\t\t\t<p><input class=\"wpcf7-form-control wpcf7-submit has-spinner btn btn-dark text-uppercase py-2 px-5 small\" id=\"theSubmitButton\" type=\"submit\" value=\"Submit\" \/>\n\t\t\t\t\t<\/p>\n\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t<\/div>\n\t<\/div>\n<\/div><input type=\"hidden\" name=\"post_id\" value=\"3735450\" \/><input type=\"hidden\" name=\"source\" value=\"https:\/\/www.pymnts.com\/news\/fintech-investments\/2026\/saudi-fintech-stitch-raises-25-million-to-replace-fragmented-bank-cores\/\" \/><p style=\"display: none !important;\" class=\"akismet-fields-container\" data-prefix=\"_wpcf7_ak_\"><label>&#916;<textarea name=\"_wpcf7_ak_hp_textarea\" cols=\"45\" rows=\"8\" maxlength=\"100\"><\/textarea><\/label><input type=\"hidden\" id=\"ak_js_1\" name=\"_wpcf7_ak_js\" value=\"100\"\/><script>document.getElementById( \"ak_js_1\" ).setAttribute( \"value\", ( new Date() ).getTime() );<\/script><\/p><div class=\"wpcf7-response-output\" aria-hidden=\"true\"><\/div>\n<\/form>\n<\/div>\n\r\n\t<\/div>\r\n<\/div>\r\n<div id=\"article-paywall-hidden-content\">\r\n\t\n<p>The company will use the new funding to accelerate product development, deepen its presence across the Gulf Cooperation Council (GCC) and broader Middle East and North Africa (MENA) region, and expand its global go-to-market operations, it said in a Thursday (May 14) <a href=\"https:\/\/www.stitch.co\/press\/stitch-raises-25m-series-a-led-by-andreessen-horowitz\">press release<\/a>.<\/p>\n<p>Stitch was founded in 2022 and announced a $10 million <a href=\"https:\/\/www.stitch.co\/press\/stitch-secures-10-million-in-funding-to-simplify-banking-and-payments-innovation\">seed round<\/a> in May 2025.<\/p>\n<p>The company\u2019s platform is designed to replace financial institutions\u2019 fragmented, legacy core systems with a modern system of record that is ready for artificial intelligence, according to the Thursday press release.<\/p>\n<p>While the platform provides a single, cloud-native stack that spans lending, cards, payments and ledgers, it can be adopted module by module so that financial institutions don\u2019t have to replace their existing infrastructure all at once.<\/p>\n<p>Stitch operates across the GCC, Africa and Southeast Asia, and it saw more than $5 billion transacted on its platform in the last six months alone, per the release.<\/p><div id=\"pymnt-49269637\" class=\"pymnt-content pymnt-entity-placement\" style=\"margin-top: 50px;\"><p style=\"text-align:center\">Advertisement: Scroll to Continue<\/p><script async type=\"text\/javascript\" id=\"dianomi_context_script\" src=\"https:\/\/www.dianomi.com\/js\/contextfeed.js\"><\/script> \r\n<div class=\"dianomi_context\" data-dianomi-context-id=\"4329\"><\/div><\/div>\n<p>Stitch Founder and CEO <a href=\"https:\/\/sa.linkedin.com\/in\/mohamedoueida?trk=public_post-text\">Mohamed Oueida<\/a> said in the release that financial institutions want to adopt AI but can\u2019t do so on top of fragmented, legacy infrastructure. \u201cWe built Stitch to fix that,\u201d Oueida said.<\/p>\n<p><a href=\"https:\/\/www.linkedin.com\/in\/arampell\">Alex Rampell<\/a>, general partner at <a href=\"https:\/\/a16z.com\/\">Andreessen Horowitz<\/a>, which led the funding round, said in the release: \u201cWhat Stitch is building, a modern, unified system of record, is what makes everything else possible.\u201d<\/p>\n<p>Rampell and <a href=\"https:\/\/a16z.com\/author\/james-da-costa\/\">James da Costa<\/a>, partner at Andreessen Horowitz, wrote in a Wednesday (May 13) <a href=\"https:\/\/a16z.com\/announcement\/investing-in-stitch\/\">blog post<\/a> that countries in the Middle East are expanding their financial services ecosystems as they look to grow outside of oil, and Saudi Arabia plans to add hundreds of new financial institutions over the next five years. These institutions will need core banking software, creating a \u201cgreenfield opportunity\u201d for a company like Stitch.<\/p>\n<p>\u201cWe are thrilled to lead Stitch\u2019s Series A \u2014 and honored to make this our first investment in Saudi Arabia,\u201d Rampell and da Costa wrote in the post. \u201cAfter years building conviction around the global FinTech infrastructure opportunity, we believe Stitch represents the clearest expression we\u2019ve found of what the next generation of this infrastructure looks like.\u201d<\/p>\n\r\n<\/div>\r\n<script>\r\n\twindow.pymntsAllowedArticleCount = 1;\r\n\twindow.pymntsPostID = 3735450;\r\n<\/script>","protected":false},"excerpt":{"rendered":"<p>Saudi Arabia-based Stitch raised $25 million in a Series A funding round to grow its operating system for modern financial institutions. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content \u2014 no additional logins required. yesSubscribe to our daily newsletter, PYMNTS Today. By completing [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":3735477,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"content-type":"","inline_featured_image":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","pymnts_footnotes":""},"categories":[11433],"tags":[9498,7617,22280,9206,133069,68610,5299],"class_list":["post-3735450","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-fintech-investments","tag-ai","tag-fintech","tag-mena","tag-news","tag-pymnts-news","tag-stitch","tag-whats-hot"],"acf":{"suggested_titles":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.2 (Yoast SEO v27.3) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Saudi FinTech Stitch Raises $25 Million to Replace Bank Cores<\/title>\n<meta name=\"description\" content=\"Saudi Arabia-based Stitch raised $25 million in a Series A funding round to grow its operating system for modern financial institutions.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.pymnts.com\/news\/fintech-investments\/2026\/saudi-fintech-stitch-raises-25-million-to-replace-fragmented-bank-cores\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Saudi FinTech Stitch Raises $25 Million to Replace Fragmented Bank Cores | PYMNTS.com\" \/>\n<meta property=\"og:description\" content=\"Saudi Arabia-based Stitch raised $25 million in a Series A funding round to grow its operating system for modern financial institutions. 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