The Source Signals
Tech news is everywhere. Intelligence isn't.
Banks Spend $700bn a Year on Technology and Still Cannot Deploy AI. Stitch Is Building the Layer That Changes That.
The financial services sector has spent over $1tn on digital transformation in three years and most institutions still cannot get AI to work at scale. Mohamed Oueida, Founder and CEO of Stitch, has spent three years building the infrastructure foundation that makes it possible, and Andreessen Horowitz has just backed him with $25m to prove it globally.
Andreessen Horowitz makes its first GCC bet with a $25M investment in Saudi fintech platform Stitch
a16z's first GCC investment backs Stitch, the Saudi-based infrastructure platform rebuilding the core systems that financial institutions need before AI can do anything useful.