THE MIDDLE EAST’S

23. Lean Technologies
Description: Open banking aggregator
Headquarters: Saudi Arabia
Date of Establishment: 2019
Founders: Hisham Al-Falih, Aditya Sarkar, Ashu Gupta, Mehdi Tazi
Lean Technologies builds solutions to help businesses connect to their consumers’ bank accounts, retrieve vital financial data, and make account-to-account payments. It currently covers all 11 banks in Saudi Arabia, and 98% of banks in the U.A.E. Lean serves over 250 clients, including e&, DAMAC, and Careem in the U.A.E., as well as Tamara, Tabby, and Wataniya Insurance in Saudi Arabia. In November 2024, it raised $67.5 million in Series B funding, led by General Catalyst, bringing its total funding to $105 million. As of December 2024, it had more than 700,000 end-user accounts connected and crossed $2.5 billion in total payment value.