Riyadh – Sharikat Mubasher: Saudi-based venture builder Lean Node teamed up with investment firm 1957 Ventures to launch the Fintech and AI Foundry, a new program designed to fast-track the creation of Saudi fintech startups powered by artificial intelligence.
The Foundry will host hackathons and development programs where finalists receive guaranteed seed funding and full-scale support to turn concepts into revenue-generating companies, as per a joint press release by both sides.
The initiative combines Lean Node’s venture-building expertise with 1957 Ventures’ capital and investor network to provide early financing, tailored regulatory guidance, market-entry programs, and access to mentors and strategic partners.
Abdulrahman Al Zaid, Lean Node CEO, said the partnership merges “venture capital and hands-on company building” to help founders move “from idea to market,” aligning with Saudi Arabia’s innovation goals.
Meanwhile, Abdullah Al Zaini, Senior Vice President of Portfolio Management at 1957 Ventures, added that the Foundry ensures “the best ideas don’t stay on paper but launch strongly into the market.”
Supporting the objectives of Saudi Vision 2030, the Fintech and AI Foundry aims to strengthen the Kingdom’s startup ecosystem and position it as a regional hub for AI-driven financial technology.
