Saudi fintech Lean Technologies has secured $67.5 million in a Series B round, bringing its total funding to over $100 million. Led by General Catalyst with contributions from Bain Capital Ventures and Arbor Ventures, this round will accelerate Lean's role as a leading provider in the Middle Eastern fintech infrastructure, expanding its pay-by-bank and open banking solutions.
Key Points:
- Funding Leaders: General Catalyst led the round, joined by Bain Capital, Duquesne Family Office, and Arbor Ventures.
- Expansion Goals: Funds will expand Lean's financial infrastructure, deepening partnerships, and broadening product offerings across MENA.
- Key Clients and Impact: With $2 billion processed in transactions, Lean supports major clients like Careem and DAMAC.
- Strategic Vision: CEO Hisham Al-Falih envisions Lean as pivotal in fostering a financially inclusive ecosystem in the region.
