Andreessen Horowitz led a $25M Series A for Riyadh-based Stitch, marking the venture giant's first investment in the Gulf region. Stitch develops software for banks and financial services companies.
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.
Livestream shopping platform Whatnot has acquired AI startup Shaped to enhance its recommendation engine. The deal strengthens Whatnot's personalization capabilities as it expands into new product categories.
Amsterdam-based Monumental secured a $32 million Series B round led by Khosla Ventures. The company develops autonomous robotics and AI software for the construction industry.
Indian AI coding startup Emergent reached a $1.5 billion valuation in its latest funding round, raising $130 million in Series C and joining the unicorn club after a five-fold valuation jump in six months.
Rime, an AI platform processing over 100 million calls monthly, secured $24 million in Series A funding to expand its customer service solutions for enterprises.