Stitch Raises $25M Series A as a16z's First Gulf Investment
Riyadh-based Stitch, which builds banking and financial services software, raised $25M in a Series A led by Andreessen Horowitz. The investment is a16z's first in the Gulf region—a significant geographic expansion for one of Silicon Valley's most influential venture firms. Saudi Arabia's Vision 2030 program has made the Gulf a priority destination for international tech capital, and this marks a16z's formal entry into the region.
Why It Matters
A major US VC's inaugural Gulf investment opens a signal pathway for other US funds following a16z's regional thesis. Stitch operating in banking/finserv means the investment also validates that Gulf financial services digitization is investable at Series A scale from top-tier Western funds.