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About Stitch
Stitch is a unified financial infrastructure platform that helps banks, fintechs, and non-financial companies build and run financial products through a single API. Its core services cover payments (online pay-ins, payouts), card issuing and management, digital wallets, lending operations, and programmable ledgers. Instead of connecting multiple vendors separately, clients use one modular stack to launch and scale products like loans, prepaid cards, or wallet-based transfers.
The main problem Stitch solves is the fragmentation and rigidity of legacy banking systems. Many financial institutions still rely on outdated, siloed infrastructure, which makes launching new products slow and costly. Stitch replaces this with a cloud-native, API-first platform that allows clients to add or change modules without rebuilding their entire technology stack. It also includes built-in redundancy and fraud detection, so transactions route across multiple networks automatically and are screened in real time.
In the past six months (March to September 2026), Stitch has expanded its operational footprint across the GCC, Africa (including Egypt and Kenya), and Southeast Asia. Its client base now includes companies like Raya Financing, LuLu Exchange, Noqodi, and Foodics. Transaction volume on the platform has exceeded $5 billion in the last six months, and the company reports a 10x increase in customer numbers and a 20x rise in revenue during 2025. While no major negative events were reported, the company continues to face the general challenge of convincing traditional banks to migrate away from legacy systems, which remains a slow and cautious process in the industry.
Founded in 2022 by Mohamed Oueida, Stitch emerged as a unified, API-driven financial infrastructure platform. In May 2025, the company raised a $10 million seed round, backed by investors including Arbor Ventures, COTU Ventures, Raed Ventures, and SVC, to expand into emerging markets. Shortly after, Andreessen Horowitz (a16z) announced its investment in Stitch, marking the firm's first fintech investment in the GCC region. These funding milestones enabled Stitch to scale its platform beyond the Middle East into Africa and Southeast Asia, solidifying its position as an AI-native operating system for modern financial institutions.
In May 2026, Stitch announced the completion of a $25 million Series A round led by a16z, marking a16z's first investment in Saudi Arabia, bringing total funding to $35 million. Headquartered in Riyadh, the company operates across GCC, Africa, and Southeast Asia.
Over the past six months, Stitch's platform surpassed $5 billion in transaction volume, with customer growth of 10x and revenue growth of 20x in 2025. Its core product is a unified financial infrastructure offering modular services including card issuance, lending, wallets, deposits, payments, and ledgers, enabling financial institutions to rapidly launch digital finance products.
Future priorities include: deepening market penetration in Saudi Arabia and MENA, expanding into emerging markets in Africa and Southeast Asia; continued investment in AI-driven financial automation, such as intelligent customer support and loan approval process optimization; and plans to support new use cases like stablecoins and tokenized assets through its modular architecture. The company emphasizes its "incremental modernization" strategy, allowing traditional banks to upgrade gradually without replacing entire core systems.
Co-founders and core executives:
Kiaan Pillay (Co-founder & CEO) - Previously Head of Partnerships at Smile Identity, Head of Ops at Root, and co-founded Pelichat. Holds a Bachelor's degree in Computer Science and Finance from University of Cape Town.
Priyen Pillay (Co-founder & CTO) - Former full-stack engineer at FLASH Mobile Vending, Interbet International, and immedia. Prior to software, worked in property development at Daveglen 546 Investments.
Junaid Dadan (Co-founder & President) - Previously at Stripe and McKinsey, bringing expertise in scaling operations.