Stitch raises $10M to build Saudi-born fintech infrastructure for emerging markets

Stitch, a Saudi-based fintech infrastructure platform, has raised $10 million in a seed round to simplify the launch of banking and payments products across emerging markets.

The round was backed by Arbor Ventures, COTU Ventures, Raed Ventures, and SVC, with participation from family offices and industry veterans including Marqeta founder Jason Gardner and Abdulmalik AlSheikh, former head of mada and Sadad.

Founded in 2022 by Mohamed Oueida, Stitch is a unified SaaS and API platform that enables financial and non-financial institutions to build and scale modern financial products, cutting implementation time by up to 80%.

The platform is already used by leading regional players including Lulu Exchange, Alamoudi Exchange, Foodics, Dar Al Tamleek, Raya Financing, and Tanmeya Capital.

Stitch claims their infrastructure is purpose-built for the realities of the Middle East, allowing institutions to bypass legacy complexity and launch products in under 90 days. The company is also seeing early traction outside the GCC, with initial deployments in East Africa.

The $10 million seed round will support product expansion and hiring, in line with Stitch’s ambition to become the default infrastructure partner for emerging market institutions building compliant, scalable financial tools.