• Stitch closed a USD 10M seed round to grow its API-first platform for launching and scaling financial products.
• The round saw backing from big names like Arbor Ventures, Raed Ventures, and fintech veteran Jason Gardner.
• Stitch plans to grow its team and platform, targeting banks, fintechs, and non-financial firms building embedded finance tools.

Stitch

What happened? Saudi fintech startup, Stitch, just locked in USD 10M in a seed funding round. The round was led by Arbor Ventures, COTU Ventures, Raed Ventures, and SVC, Jason Gardner, and Abdulmalik AlSheikh. 

What is next? Stitch aims to use the funding to grow its team, improve its tech, and deepen its regional reach. Additionally, it aims to enhance its platform and position itself as an infrastructure painter for banks, fintechs, and non-financial enterprises. 

Financial Products

Who are they? Founded in 2022 by Mohamed Oueida, it offers a Software-as-a-Service platform that helps businesses launch financial products faster. Furthermore, it provides an API-driven solution that helps companies deliver banking and payment products  faster. According to Oueida, clients cut go-to-market time by up to 80% by avoiding legacy inefficiencies.

Why does this matter?  Building financial products is still a pain in most of MENA. Legacy systems, regulatory hurdles, and fragmented infrastructure slow things down. Stitch aims to address these issues by offering infrastructure that supports both fintech startups and established financial institutions.

“Today, the process of building financial products is broken. Businesses are forced to navigate outdated legacy systems and complex regulatory frameworks, making things slow, expensive, and mostly painful. Our vision is to reinvent how financial and non-financial institutions bring banking and payment products to market.” said Mohamed Oueida, founder and CEO of Stitch.

Bottom Line: As demand for embedded finance grows, platforms like Stitch are stepping in to solve long-standing infrastructure gaps across MENA.