Stitch Snags $10M to Accelerate Fintech Expansion into East Africa

Editorial Team

Last updated 28-05-2025

2 min

Saudi fintech startup Stitch secured $10 million in Seed funding from key investors.

Founded by Mohamed Oueida in 2022, Stitch reduces financial product launch time by 80%.

Stitch plans to expand into East Africa, beginning operations in Kenya.

The funding will enhance Stitch's platform and create job opportunities.

Industry watchers praise Stitch as a leading tech innovator in Saudi Arabia’s financial sector.

Saudi fintech startup Stitch has just wrapped up a Seed funding round, sealing an impressive $10 million investment from some major players in the sector. Among the heavyweights backing Stitch's vision are Arbor Ventures, COTU Ventures, RAED Ventures, and the Saudi Venture Capital (SVC). They weren't alone either—several family-run firms and prominent individual investors, like Jason Gardner and Abdulmalik Al Al-Sheikh, also jumped into the action.

Founded by Mohamed Oueida back in 2022, Stitch offers financial and non-financial institutions an integrated platform to quickly get their financial products off the ground. According to the company, their tech helps slash the typical launch time by a whopping 80%. That means firms can now bring new financial services to market in less than 90 days—far quicker than traditional timelines.

Not content with the Middle East alone, Stitch has recently set its sights on East Africa, starting operations in Kenya as its first step into the continent. Mohamed Oueida and his team now plan to funnel this fresh $10 million into improving the platform further and expanding their team, meaning there's likely to be plenty of new jobs on offer soon enough. Good news if you've been considering a career change, Arageek readers.

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Industry watchers have described Stitch as one of the strongest technology products currently shaking things up in Saudi Arabia's financial sector, praising it as the country's first genuine infrastructure technology company. Clearly, Stitch is aiming big and gathering serious momentum. It'll be interesting to watch whether it can really transform the often painfully slow fintech landscape—and perhaps even tempt other startups across the region into upping thier game.

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