Saudi arabia: Saudi Arabia's technology ecosystem has achieved a regional milestone by attracting the Gulf region's first investment from global venture capital giant Andreessen Horowitz (a16z), through its leadership of a $25 million Series A funding round for Saudi fintech company Stitch. The move further reinforces the Kingdom's position among the world's leading destinations for global technology investments. This investment adds to Saudi Arabia's growing leadership in venture capital investments, with the Kingdom ranking first in the region for the third consecutive year after achieving a record $1.7 billion in total venture capital investments in 2025, representing annual growth of 145% compared to the previous year. Commenting on the investment, Assistant Deputy Minister for Entrepreneurship at the Ministry of Communications and Information Technology Mohammed Alarifi said that the investment reflects the Kingdom's continued success in enabling entrepreneurship and supporting the growth of the digital economy.
According to Saudi Press Agency, he emphasized that attracting leading global venture capital firms such as a16z to Saudi Arabia's technology ecosystem serves as a strong testament to the maturity of the Kingdom's tech entrepreneurship ecosystem. Alarifi also added: 'We continue to build an attractive environment for innovators and international investors. What Stitch has achieved today represents the future the Kingdom aspires to build through the support and enablement of its wise leadership - a future where technology solutions emerge from Riyadh to compete globally and attract international attention, reinforcing Saudi Arabia's position as a hub for innovation and advanced technologies.'
Stitch provides an advanced financial operating system that helps address infrastructure debt challenges, enabling banks with the tools needed to accelerate product launches and scale with confidence and efficiency. General partner at a16z Alex Rampell said: 'We are excited about our investment in Stitch as our first investment in the Gulf region.'
