Riyadh - Sharikat Mubasher: Lean Technologies, the fintech infrastructure platform based in Riyadh, successfully secured $67.5 million in a series B round led by General Catalyst, with contributions from Bain Capital Ventures, Stanley Druckenmiller’s Duquesne Family Office, and Arbor Ventures, among others.

This round brings Lean Technologies’ total funding to more than $100 million to date.

According to a recent statement, Lean will use the investments to upgrade its Pay-by-Bank and Open Banking offerings, ultimately enhancing operational efficiencies for businesses across the region.

The company further aims to deepen partnerships, grow its expert team, and expand its product offerings to solidify its role as a leading fintech infrastructure provider in the Middle East.

Hisham Al-Falih, CEO and Co-founder of Lean Technologies, stated that the funding represents a pivotal moment for Lean and the entire fintech landscape in the Middle East.

He highlighted the crucial role of Lean in building infrastructure that enables seamless adoption across industries.

“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,” Al-Falih added.

Meanwhile, Neeraj Arora, Managing Director at General Catalyst, said: “We believe Lean is well-positioned to become a pivotal force in driving the growth of the region by building the fintech infrastructure layer for local businesses."

Over the past three years, Lean Technologies has transformed payment journeys for businesses through its A2A payment solutions, simplifying pay-ins and payouts for major clients. It serves various industries, including insurance, lending, and marketplaces, verifying nearly 1 million bank accounts.