INFOGRAPHIC: Startup Funding in Africa and the Middle East — Week 46
Here are the venture funding activities we tracked in the Middle East and African region this week – including Lean Technologies, UnifyApps, Kardome, Agventure, and Efreshli.
- Riyadh’s fintech company Lean Technologies receives a $67.5M Series B fund to expand operations.
- UAE SaaS solutions provider UnifyApps gets $20M Series A Investment to boost expansion plans.
- Israeli voice AI startup Kardome acquires $10M in Series A funding to develop spatial hearing AI technology.
- Kenyan farmer-owned business Agventure closes $9.5M in funding to scale regenerative farming.
- Egypt's interior design startup Efreshli banks seed funding to digitize its food supply chain.
Riyadh’s fintech company Lean Technologies receives $67.5M Series B fund to expand operations
Lean Technologies, a fintech infrastructure platform based in Saudi Arabia landed $67.5 million in Series B funding led by General Catalyst, a venture capital firm based in Silicon Valley, with participation from Bain Capital Ventures, Stanley Druckenmiller's Duquesne Family Office, Arbor Ventures, and others.
With this latest funding, Lean's total financing exceeds $100 million, following a Series A round of $33 million in 2022.
Founded in 2019 by Hisham Al-Falih, Ashu Gupta, and Aditya Sarkar, Lean is an open banking platform that enables companies to access bank data and make payments by providing businesses with secure access to critical financial infrastructure, allowing them to embed more personalized financial services into their platforms.
This funding will enable Lean to scale its pay-by-bank and open banking offerings, with plans to deepen partnerships, grow its expert team, and expand its product offerings.
