INFOGRAPHIC: Startup Funding in Africa and the Middle East

Riyadh’s fintech company Lean Technologies receives a $67.5M Series B fund to expand operations.
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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.