Saudi Arabian fintech Stitch raises $10 million seed round to boost regional expansion

Stitch's $10 million seed funding marks a significant boost for Saudi fintech, highlighting growing investor confidence in MENA's digital finance sector. This follows major funding rounds for UAE's Qashio and Qatar's PayLater, signaling a vibrant regional fintech growth trend.

Sources:
VCCircle
Updated 1h ago
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Saudi Arabian fintech infrastructure platform Stitch has raised $10 million in a seed funding round from multiple investors to accelerate its regional expansion, marking a significant step in the Middle East fintech landscape.
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The Headline

Stitch secures $10M seed funding for expansion

Key Facts
  • Saudi Arabian fintech infrastructure platform Stitch raised $10 million in seed funding from multiple investors to accelerate its geographical expansion.VCCircle
Key Stats at a Glance
Seed funding raised by Stitch
$10 million
VCCircle
Background Context

MENA fintech startups secure diverse funding rounds

Key Facts
  • Iraq-based B2B e-commerce startup Toolmart secured seed funding led by Plus VC and Oasis500 to propel its growth.VCCircle
  • BirdEye, a Saudi-based retail tech startup, raised $586,000 in a pre-seed round from a private tech-focused fund.VCCircle
  • Qatar’s first licensed buy-now-pay-later platform PayLater secured investment from LuLu Alternative Investments, the investment arm of LuLu Financial Holdings.VCCircle
  • UAE fintech Qashio, backed by Iliad Partners, secured $19.8 million in equity and non-equity funding led by an existing investor to expand into Saudi Arabia.VCCircle
Key Stats at a Glance
Funding secured by UAE fintech Qashio
$19.8 million
VCCircle
Pre-seed funding raised by BirdEye
$586,000
VCCircle
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