Stitch

What Stitch does

Stitch is a Riyadh-headquartered fintech infrastructure company that provides a cloud-native, API-first financial operating system to banks, fintechs, financing companies, exchange houses, and non-financial corporates across the GCC and broader MENA region. Founded in 2022 by Mohamed Oueida, the company consolidates what is typically a fragmented vendor stack — card issuing, lending, payments, wallets, deposits, onboarding/KYC, and ledgering — into a single modular platform that institutions can adopt product-by-product without replacing legacy cores.

The platform is built on a real-time programmable double-entry ledger and an orchestration layer (a unified payment switch and intelligent routing engine) that connects to Visa, Mastercard, and domestic schemes such as mada. Its six core modules — Ledgers, Cards, Loans, Deposits, Applications, and Transactions — power use cases including BNPL, digital loans, virtual cards, digital wallets, onboarding, and routing, with built-in support for Shariah-compliant lending (Murabaha, Ijara, Tawarruq), native 3DS via an in-house ACS, and Sharia-compliant and conventional products in parallel. Stitch's regulatory positioning includes the SAMA DCSP designation, acquired via the July 2025 purchase of Efficacy Payments, which enables card-acquiring services in Saudi Arabia alongside compliance with SAMA's Cybersecurity Framework, CBUAE guidelines, and in-region data residency.

Stitch monetizes through a combination of platform/API subscription fees, transaction-based fees (the company reported processing more than $5 billion in transactions in the six months preceding its Series A), issuer processing and BIN-sponsorship services via partner banks, and implementation and onboarding professional services. It sells via direct enterprise sales supported by an API-led self-serve developer motion and a partner-bank distribution channel for BIN sponsorship. As of the May 2026 Series A led by Andreessen Horowitz, Stitch reported 20x revenue growth and 10x customer growth in 2025, with more than 150,000 end customers reached through Stitch-powered products.

Name

Stitch

Legal name

Stitch

Website

https://stitch.co

Company type

Private

Founded year

2022

Operating status

Operating

Headcount range

251–500 employees

Short description

Stitch is a Riyadh-based fintech infrastructure company that provides an AI-native, API-first operating system unifying cards, lending, payments, wallets, deposits, and ledgers for banks, fintechs, and corporates across the GCC and MENA.

Ownership category

akta.pro rank

Product category

Financial Infrastructure Software

SIC

Services-Computer Programming, Data Processing, Etc. (7370)

akta.pro primary industry

SME Lending Platforms & Embedded SME Credit (FSAKAGAJ)

Keywords

• Financial infrastructure software
• Core banking platform
• Card issuing platform
• Digital lending software
• Payment orchestration

Headquarters

HQ city

Riyadh

HQ country

Saudi Arabia

HQ region

Middle East

Offices9 records

Markets served

GTM type

B2B

Offering type

Software

Cost components

Personnel, Technology or R&D, Infrastructure, Marketing or Sales, Operations

Revenue model

1. Platform / API-as-a-Service Subscription: Recurring platform fees from financial institutions and fintechs using Stitch as their core infrastructure across lending, cards, payments, wallets, deposits, and ledgers. The site references 'transparent pricing' and a dedicated /pricing page but does not publicly list rates.
2. Transaction-Based Fees: Revenue scales with transactions processed through Stitch's platform; over $5B in transactions were processed in the six months leading up to Series A, with 20x revenue growth in 2025.
3. Issuer Processing & Card Lifecycle Services: Stitch provides issuer-processor-as-a-service to banks and acts as BIN sponsor (through partner banks) to non-regulated fintechs and corporates that want to issue payment cards, generating service fees tied to issuance and ongoing processing.
4. Implementation & Onboarding Services: Tailored support, configuration, and integration services accompanying deployment; the platform advertises go-live in as little as 90 days and 80% faster implementation vs traditional providers.

Pricing tiers

Go-to-market motion4 records

Distribution channels5 records

Marketing channels7 records

Core offering

Stitch provides a unified, AI-native, API-first financial operating system that lets banks, fintechs, and non-financial corporates launch and run regulated financial products — ledgers, card issuing, lending, deposits, payments, digital wallets, onboarding, and intelligent routing — through a single integration. Customers adopt modules individually or together, with Stitch also acting as a BIN sponsor and issuer processor in MENA and offering card-acquiring services in Saudi Arabia via its acquired DCSP designation.

Product overview

Stitch is an AI-native, API-first unified financial operating system that provides banks, fintechs, and non-financial companies with a single platform for building, launching, and scaling financial products. The offering follows a platform-plus-modules architecture: the core Stitch Platform integrates six core solution modules—Ledgers, Cards, Loans, Deposits, Applications (Onboarding/Origination), and Transactions (Unified Switch)—accessible through a single integration. These modules power specific use cases such as BNPL, Digital Loans, Virtual Cards, Digital Wallets, Onboarding, and Routing. Each module operates independently or together, allowing institutions to adopt functionality module by module without replacing legacy systems overnight, and reducing implementation time by 80% with go-live in as little as 90 days.

Differentiator

Problem solved

Functional benefit

Products and services

• Stitch Platform Unified AI-native, API-first operating system that consolidates ledgers, cards, payments, lending, deposits, and onboarding modules into a single integration layer for banks, fintechs, and corporates.
• Ledgers

Quantifiable outcome

• 80% reduction in implementation time, with go-live in as little as 90 days versus 9–12 months for traditional providers
• +5 more outcomes

Named customers25 records

Segments5 records

Ideal customer profiles5 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration4 records

AI capability4 records

Feature9 records

Partnerships

Two partnerships are on record, tiered strategic acquisition enabling stitch's card-acquiring services in ksa. and thought-leadership contributor..

• Efficacy Paymentsstrategic acquisition enabling stitch's card-acquiring services in ksa.Strategic or Co-development Partner · 9 July 2025Stitch acquired Efficacy Payments and obtained the SAMA DCSP (Data, Cards, Switching & Processing) designation to offer card-acquiring services in Saudi Arabia, extending its infrastructure stack with merchant acquiring capability.
• Mazen Hakeemthought-leadership contributor.Others · 3 July 2025Bylined author on Stitch's blog 'What is embedded finance and how does Stitch enable it?' (25 Nov 2024), positioning Stitch as the platform-of-record for embedded finance in MENA.

Scale indicators12 records

Recent moves7 records

Expansion highlights7 records

Direct peers

• Marqeta: Marqeta is the leading API-first card issuing and payment processing platform, offering modern card infrastructure to fintechs and banks globally. It is highly comparable to Stitch's card module, BIN-sponsorship model, and issuer-processing capability; notably, Marqeta founder Jason Gardner is an angel investor in Stitch, underscoring the direct architectural and product overlap.
• Galileo Financial Technologies: Galileo (a SoFi company) provides API-based payment processing, card issuing, digital banking, and fraud solutions to fintechs and banks. It mirrors Stitch's core proposition of replacing legacy cores with a single API-led stack spanning cards, payments, ledgers, and onboarding — serving a directly comparable regulated and unregulated customer base.
• Rapyd: Rapyd is a global fintech-as-a-service platform offering payments, card issuing, wallets, and embedded finance across emerging and developed markets, with established presence in MENA. It is comparable to Stitch in target customer (fintechs and non-financial corporates), API-first model, and geographic focus on underserved emerging markets.
• NymCard: NymCard is a MENA-based issuer processor and card program management platform providing BIN sponsorship, card issuance, and processing to fintechs and banks. It directly competes with Stitch's issuing and BIN-sponsorship modules in the same core geographies (UAE, Saudi Arabia, wider GCC).
• Thought Machine: Thought Machine provides cloud-native core banking technology (Vault) used by global banks to replace legacy core systems. It is comparable to Stitch's positioning as a modern, unified, cloud-native replacement for fragmented banking infrastructure, though Stitch's stack is broader (lending + cards + payments) and MENA-focused.
• Mambu: Mambu is a SaaS cloud banking platform for lending, deposits, and accounts, used by banks and fintechs to launch products rapidly. It competes with Stitch's lending and deposits modules and shares the same 'replace legacy cores with composable cloud banking' narrative for regulated financial institutions.

Broad incumbents

• Stripe: Stripe is a global internet economy platform spanning payment processing, card issuing (Stripe Issuing), treasury, and embedded finance. As a broader incumbent expanding into MENA, it overlaps with Stitch's transactions, routing, and card modules but does not focus specifically on GCC regulated core replacement.
• Adyen: Adyen is a global payments platform offering unified acquiring, processing, and issuer (via partnership) services to large enterprises. While it overlaps with Stitch's unified payment switch and intelligent routing, Adyen is a broad incumbent focused on large global merchants rather than the GCC regulated infrastructure segment Stitch targets.

Emerging players

• Weavr: Weavr provides an embedded finance platform for businesses to integrate payments, banking, and card capabilities via APIs. It is comparable to Stitch's embedded finance go-to-market for non-regulated corporates, though Weavr focuses on European integrations while Stitch focuses on MENA.

Regional players

• Pay10: Pay10 is a payments and processing platform serving emerging markets, with focus on Asia and adjacent regions. It is comparable to Stitch as a regional payments-infrastructure alternative for fintechs and corporates, though Pay10's footprint skews toward South/Southeast Asia rather than MENA.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/StitchHQ
• LinkedInlinkedin.com/company/stitch

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries1 record

Funding overview

Funding rounds2 records

Investors5 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Stitch