A16Z BACKS SAUDI FINTECH STITCH IN $25M SERIES A

The funding round underscores continued investor interest in Gulf tech despite geopolitical tensions. A16z's entry into the region signals confidence in Saudi Arabia's financial technology sector, which has grown rapidly over the past decade. Stitch provides software solutions tailored for banking and financial services, addressing demand from institutions modernizing their operations. The company joins a growing wave of Saudi startups attracting international capital. The investment comes as major venture firms diversify their portfolios beyond traditional tech hubs. Saudi Arabia has positioned itself as a fintech hub through regulatory reforms and government backing of digital transformation initiatives. A16z's Gulf debut with Stitch represents a shift in venture capital allocation, with the region offering both market opportunity and regulatory frameworks increasingly favorable to financial technology innovation.