Lean Technologies

Riyadh-based fintech infrastructure company whose APIs let businesses access bank account data and take bank payments with customer consent. Founded in 2019, it has raised about $104 million and holds Saudi Arabia's first open banking licence.

Industry: Open banking infrastructure | Location: Riyadh, Saudi Arabia | Founded: 2019 | Total Funding: USD 104M

About Lean Technologies

Lean Technologies builds application programming interfaces that connect businesses to their customers' bank accounts, with consent, so they can verify accounts and income, read financial data and initiate payments. Its products include Pay by Bank, Payouts, Account Verification, Address Verification, Financial Data and LeanX, and developers integrate through a LinkSDK for web, iOS, Android and React Native. Its website says it covers more than 30 banks in the Middle East and North Africa and serves more than 350 financial institutions and fintech clients.

Lean was founded in Riyadh in 2019 by Hisham Al-Falih, its chief executive, with Ashu Gupta and Aditya Sarkar, who were chief technology officer and chief product officer at the time of its 2022 Series A. Wamda listed offices in Riyadh, Abu Dhabi, Dubai, Cairo and London in January 2022. The company operates through Lean KSA, Lean UAE and Lean ADGM.

Named clients include Tabby, Tamara, Careem, e&, DAMAC, Tawuniya, Abdul Latif Jameel Finance, Salla and Ziina. Tamara said Lean's cash-flow data lifted approval rates by more than 32 percent on a new consumer financing product.

Lean was among the first participants in the Saudi Central Bank's regulatory sandbox, where it connected more than a million bank accounts and analysed more than a billion transactions. In March 2026 it received the kingdom's first major payment institution licence for open banking services. Lean ADGM is authorised by the Abu Dhabi Global Market's Financial Services Regulatory Authority, and Lean UAE received in-principle approval from the Central Bank of the UAE for open finance services in August 2025. Lean lists ISO/IEC 27001:2022 and SOC 2 Type II among its certifications. In January 2026 Ziina executed the first live customer-initiated open finance payment in the UAE with Lean, and in June 2026 the two launched one-tap pay-by-bank wallet top-ups.

Lean raised a $3.5 million seed round led by Raed Ventures in 2020, a $33 million Series A led by Sequoia Capital India in January 2022 and a $67.5 million Series B led by General Catalyst in November 2024. TechScoop reported total funding of about $104 million.

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