Lean Technologies, a fintech startup based in the Arab Gulf region, recently received a $33M Series A funding round investment from Sequoia Capital India. The investment serves as Sequoia Capital’s first investment in the region; the VC has previously backed Google and Stripe. In the Series A round, Sequoia Capital was joined by other international investors Liberty City Ventures and former GE CEO Jeff Immelt. The move towards an established open banking framework in the region will likely facilitate the growth of other fintech companies.
Sequoia Capital India Makes Gulf Debut with $33 Million Investment in Saudi fintech Lean Technologies