Lean Technologies, a Riyadh-based fintech infrastructure platform, has secured $67.5 million in Series B funding led by General Catalyst.
The round also saw participation from Bain Capital Ventures, Stanley Druckenmiller’s Duquesne Family Office, Arbor Ventures, and JIMCO, among others. This brings Lean’s total funding to over $100 million to date.
With a mission to enable the next generation of financial innovation in MENA, Lean Technologies provides businesses with secure access to critical financial infrastructure, allowing them to embed more personalized financial services into their platforms. The company believes in making financial data and payments more accessible, transparent, and beneficial for consumers and businesses, fostering a more inclusive and connected financial ecosystem.
Over the past 3 years, Lean’s impact has been evident. Regulated by ADGM in the UAE, Lean has transformed payment journeys for businesses through its A2A payment solutions, simplifying pay-ins and payouts for major clients like e&, DAMAC, and Careem.
In Saudi Arabia, Lean’s launch of its data solutions under the Saudi Central Bank’s regulatory sandbox has impacted clients across various industries, including insurance, lending, and marketplaces, verifying nearly 1 million bank accounts. Clients like Tawuniya, Abdul Latif Jameel Finance, Salla, Tabby, and Tamara have leveraged these services to unlock new use cases, further establishing Lean as the key player in enabling the region’s financial ecosystem.
Hisham Al-Falih, CEO and Co-Founder of Lean Technologies said:
“This funding marks a pivotal moment not only for Lean but for the entire fintech landscape in the Middle East. We’re witnessing fintech evolve from a specialized vertical into an essential layer of the region’s economic fabric, with Lean playing a crucial role in building infrastructure that enables seamless adoption across industries. Our goal has always been to create a financial ecosystem that prioritizes accessibility and inclusion, empowering consumers and SMEs to access the tools they need for growth. With this new investment, we’re energized to expand our solutions and continue supporting businesses of all sizes in delivering secure, impactful financial services that meet the needs of a dynamic region.”
Featured image credit: Hisham Al-Falih, CEO and Co-Founder of Lean Technologies and Neeraj Arora, Managing Director at General Catalyst. Edited from freepik
