Saudi Fintech Startup Lean Explores Deals on Pathway to IPO

Saudi fintech startup Lean Technologies is exploring new investments as it seeks to expand its product offerings ahead of a possible public listing.

The company aims to grow beyond open banking and finance by investing in other businesses that can help offer more solutions to clients, according to Chief Executive Officer Hisham Al-Falih.

Lean — which is backed by at least $100 million in disclosed venture funding from investors including General Catalyst — is seeing strong activity in remittances, cross-border payment flows and alternative credit solutions, and keeping an eye on opportunities in sectors like insurance, pensions and investments.

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