Stitch (@StitchHQ) / X

Stitch

1,798 posts

Stitch

@StitchHQ

The simplest way to build financial products

Joined November 2023

Pinned
Stitch
@StitchHQ
May 14
We just announced our $25M Series A, led by @a16z, with participation from @ArborVentures1, @COTUVentures, @RaedVC, and @SVC_SA. Financial infrastructure is broken. Institutions are slow to launch, locked into fragmented legacy systems, and falling behind on AI because the
Mohamed Oueida
@MoOueida
May 14
Stitch raised a $25M Series A, led by @a16z, with continued backing from Arbor, COTU, Raed, and SVC. Grateful to our customers, who trust us with the systems that run their business. Financial institutions still run on infrastructure that should have been left behind 20 years
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Stitch
@StitchHQ
1h
Plenty of ledgers claim to be multi-currency because they can show a balance in three currencies. Far fewer can tell you the exact rate applied to each underlying transaction, which is the only part that matters when you reconcile.
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Stitch
@StitchHQ
3h
A loan is only real to the borrower the moment the money lands. Most lenders can tell you their approval time to the second and have no idea how long disbursement actually takes.
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Stitch
@StitchHQ
5h
Every wallet feels instant until a top-up fails halfway through. The card gets debited, the balance never moves, and someone in operations spends the afternoon working out where the money actually went.
40
Stitch
@StitchHQ
8h
A wallet top-up updates the balance instantly. The money behind it often settles days later, and the float in between is a risk most teams have never actually priced.
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Stitch
@StitchHQ
11h
A wallet top-up shows up as available balance the moment the user taps confirm. The money behind it usually settles hours later, and that gap is always someone's risk to carry.
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Stitch
@StitchHQ
16h
A wallet is only as instant as the rail funding it. Most of the friction users blame on the wallet is actually sitting in the top-up rail nobody owns.
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Stitch
@StitchHQ
19h
Everyone wanted payments to settle in seconds. Almost no one rebuilt their fraud and reconciliation systems to run on the same clock.
52
Stitch
@StitchHQ
22h
How many platforms running pooled deposit accounts can reconcile the bank balance against their customer sub-ledger in real time, instead of waiting for an overnight batch to tell them?
53
Stitch
@StitchHQ
Jun 11
Ledger integrity is something most teams only discover they lack the first time two systems disagree about the same balance and nobody can say which one is right.
44
Stitch
@StitchHQ
Jun 11
Ledger integrity is easy to claim and hard to prove. Most teams only find out the difference the first time two systems report a different balance for the same account.
49
Stitch
@StitchHQ
Jun 11
Everyone treats prepaid as the easy way into cards. The hard part is that the balance shown on the card and the money actually sitting in the pooled float account are tracked by two different systems that rarely agree in real time.
40
Stitch
@StitchHQ
Jun 11
Prepaid card infrastructure gets sold as the easy way into issuing. The hard part arrives later, when every cardholder balance has to reconcile against one pooled account that settles on the network's schedule, not yours.
45