Lean Technologies

Lead: General Catalyst

Investors: General Catalyst, Bain Capital Ventures, Duquesne Family Office, Arbor Ventures, Shorooq Partners (existing), SVC

Open-banking fintech founded 2019 by Hisham Al-Falih, Ashu Gupta, Aditya Sarkar. Arab News' Nov 16 column calls it Saudi; the Dec 9 Wamda-stats article labels it UAE. | Shorooq's 2024 review lists itself as a continuing investor. | SVC/MAGNiTT FY2024 KSA top-5 lists it as $68M Series B,... Date is the article date. Also: https://www.arabnews.com/startups/mena-startups-raise-258m-in-november-in-92-monthly-rise-wamda-2582353 https://www.shorooq.com/perspectives/2024-shorooqs-year-of-investments-and-milestones https://www.wamda.com/2024/11/lean-closes-series-b-67-5-million-bringing-total-funding-100-million https://svc.com.sa/wp-content/uploads/FY_2024_Saudi_Arabia_Venture_Capital_Report_EN.pdf https://www.menabytes.com/lean-series-b/ Confidence: confirmed (round 13, Arab News).

Lead: Sequoia Capital India

Investors: Sequoia Capital India (now Peak XV Partners), RAED Ventures, Outliers VC, Shorooq Partners, JIMCO, Liberty City Ventures, Human Capital, Henrique Dubugras (angel), Jeff Immelt (angel), Michael Ovitz (angel)

Sequoia Capital India's first GCC investment. Tracxn shows a smaller per-round figure ($12.7M) on its profile that contradicts every primary source - ignore. Also: https://www.cnbc.com/2022/01/20/sequoia-makes-middle-east-debut-with-33-million-investment-in-saudi-fintech.html https://www.fintechfutures.com/fintech-innovation/lean-technologies-lands-33m-funding-to-build-infrastructure-for-fintech-in-the-middle-east https://jimco.com/en/portfolio/lean-technologies/ Confidence: confirmed (round 13, Wamda).

Lead: RAED Ventures

Investors: RAED Ventures, Shorooq Partners, Outliers VC, Global Founders Capital, Global Ventures, Samih Toukan (angel), Jake Said (angel)

Lead investor RAED Ventures also published its own announcement (raed.vc, returned 503 at time of check). Angels Samih Toukan and Jake Said named by MENAbytes. Also: https://raed.vc/news/raed-ventures-invested-in-lean-technologies/ https://www.menabytes.com/lean-seed/ https://thefintechtimes.com/saudi-arabias-riyadh-based-fintech-startup-lean-technologies-raises-a-3-5-million-seed-round/ Confidence: confirmed (round 13, Wamda).