Startup Wrap: Saudi startups dominate MENA funding week as a16z makes first GCC bet
RIYADH: Saudi Arabia emerged as this week’s main mover in startup activity across the region, with five firms announcing new funding across fintech, health tech, and business operations.
The largest deal in the sector from the Kingdom came from fintech Stitch, which raised $25 million in series A funding led by Andreessen Horowitz — also known as a16z — marking the US-based firm’s first investment in the Gulf Cooperation Council region.
The round included participation from Arbor Ventures, COTU Ventures, Raed Ventures, and SVC. Founded in 2022 by Mohamed Oueida, Stitch develops a cloud-native operating system for financial institutions covering lending, cards, payments, and ledgers.
The company claims it processed more than $5 billion in transactions over the last six months, while its customer base grew 10 times in 2025.
