The Lean Technologies story: the infrastructure behind your financial apps
The story of Lean Technologies and its founder Hisham Al-Falih: a single gateway that connects any app to banks for data and payments, from its founding in 2019, to investment from Sequoia India and General Catalyst, to the first open banking license in Saudi Arabia in 2026. Its valuation has never been disclosed, so is it the next Saudi startup worth $1 billion?
Full film transcript
When you link your bank account in an app like Tamara or Salla, in seconds…
there's a Saudi company running in the background that nobody sees.
Its name: Lean Technologies. And the question: is it the next unicorn?
In 2019, Hisham Al-Falih, a Stanford graduate, founded it with his roommate Aditya Sarkar.
Ashu Gupta joined them.
The problem: financial apps in the region couldn't easily reach bank data.
In America, there are companies that do this. In the Gulf? Not one.
So they built Lean Technologies: one gateway that connects any app to banks, for data and payments.
In 2022, it raised $33 million, led by Sequoia India. It was Sequoia India's first investment in the Gulf.
In 2024, $67.5 million, led by General Catalyst, in its first deal in Saudi Arabia.
In March 2026, Lean Technologies became the first licensed open banking company in Saudi Arabia.
Today, Lean Technologies says more than 400 companies use it.
More than $5 billion has passed through it.
Its customers include Tamara, Tabby, Salla, and Careem.
Valuation? Never disclosed. But reports say it is looking at a path to listing.
So the next unicorn? Possible.
The lesson for you as a founder: sometimes the biggest opportunity is the infrastructure nobody sees.
Follow us at Saudi Founders.
Detailed figures and sources are in the Lean Technologies profile in the directory.
