Lean Technologies, a Riyadh-based open banking and fintech infrastructure provider, has raised $67.5 million in Series B funding led by General Catalyst — its first investment in a Saudi startup — with participation from Bain Capital Ventures, Duquesne Family Office, and Arbor Ventures, bringing Lean’s total funding to over $100 million. Founded in 2019, Lean provides financial APIs for account-to-account payments and data access, has processed more than $2 billion in payment volume, and has verified nearly 1 million bank accounts for clients including e&, DAMAC, Careem, Tawuniya, and Tabby. The main objective is to scale Lean’s Pay-by-Bank and open banking offerings across the Middle East, deepening financial-services adoption as the region’s fintech infrastructure matures. Key players include Lean CEO and co-founder Hisham Al-Falih and General Catalyst managing director Neeraj Arora, who called Lean “a pioneer in Open Banking in the MENA region.”
Riyadh Fintech Lean Technologies Raises $67.5M Series B Led by General Catalyst
