Riyadh-based Lean Technologies secured $67.5 million in Series B funding led by General Catalyst, marking the venture firm’s first investment in a Saudi startup and bringing Lean’s total funding to over $100 million. Specializing in financial APIs for open banking and payment solutions, Lean has processed over $2 billion in payment volumes and verified nearly 1 million bank accounts while working with notable clients like e&, DAMAC, and Careem. The funding will enable Lean to expand its “Pay-by-Bank” offerings, enhance partnerships, and solidify its role as a fintech infrastructure leader in the MENA region amid the growing adoption of open banking.
Saudi Fintech Lean Raises General Catalyst-Led $67.5M Series B for Its Open Banking Platform
