Lean Technologies began in 2019 with a simple but powerful idea: to make banking data easy to access and use for businesses in the Middle East and North Africa (MENA) region. The company was founded by Hisham Al-Falih, a Stanford-trained engineer and passionate entrepreneur, along with two partners, Aditya Sarkar and Ashu Gupta. Based in Riyadh, Saudi Arabia, Lean quickly became a key player in fintech by offering API tools that help businesses connect directly to bank accounts for payments and data.
The Founder and His Vision
Hisham Al-Falih wanted to create a way for developers to build financial services without the usual technical headaches of dealing with banks. His background in engineering gave him the skills to lead Lean Technologies in designing easy-to-use APIs that unlock important financial infrastructure. The goal was to help companies focus on serving customers better, not on complex banking systems. This vision has helped Lean grow into a trusted platform across several countries.
What Lean Technologies provides
At its core, Lean Technologies offers a universal API that connects financial service providers with customers’ bank accounts. This means businesses can make real-time payments, check balances, and access transaction details safely and quickly. Lean follows strict rules set by the Saudi Central Bank and the Financial Services Regulatory Authority in Abu Dhabi to keep its operations secure and reliable. Big companies like Binance and Careem use Lean’s technology to power their financial products, showing the platform’s strength and trustworthiness.
Impact and Achievements
Lean Technologies has reshaped how fintech works in the MENA region. By making payments cheaper and faster than traditional card payments, it has made financial services more accessible to many people. The company supports more than 500,000 customer accounts and has processed over $2 billion in transactions. Lean meets high security standards such as ISO 27001 certification, protecting sensitive user information. Its developer-friendly tools have helped startups and major players build innovative financial apps and services.
Expanding Reach
Recently, Lean Technologies secured $67.5 million in Series B funding led by General Catalyst, boosting its total capital raised to over $100 million. This funding enables the company to expand its Pay-by-Bank and Open Banking offerings across the Middle East. Lean also received regulatory approval to operate fully in the UAE, reinforcing its position as a trusted fintech infrastructure provider.
With plans to deepen partnerships, grow its team, and enhance its product lineup, Lean is set to support more businesses and foster greater financial inclusion in the region. CEO Hisham Al-Falih emphasizes that the company’s mission is far from over, with ongoing efforts focused on integrating new regulatory frameworks and innovative payment solutions to benefit consumers and SMEs alike.
The Road Ahead
Lean Technologies plans to grow across more countries in the Middle East by 2028. The company aims to lead in modernizing the region’s financial infrastructure. It wants to keep improving its API tools and support a wider fintech community to build new, scalable financial products. Lean’s vision is to create a more inclusive digital economy where everyone can benefit from secure and efficient financial services.
Its strong achievements and clear goals make Lean a vital force in shaping the future of finance in the region. This company continues to support innovation and growth, helping businesses and customers alike unlock the power of digital banking.
