News Formal

Silicon Valley's General Catalyst makes first investment into Saudi Arabia through fintech Lean Technologies

  • 📰 nbcsandiego
  • ⏱ Reading Time:
  • 44 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 21%
  • Publisher: 51%

News ニュース

日本 最新ニュース,日本 見出し

Saudi Arabia’s fintech startups have raised over $1.84 billion in venture capital investments since 2018, according to the kingdom’s SME authority.

General Catalyst, Stanley Druckenmiller and Bain Capital's investment into Lean Technologies represent the firms' first investments into Saudi Arabia.

What this signifies, Lean Technologies CEO and co-founder Hisham Al-Falih told CNBC, is that"this is a huge vote of confidence for their view of the growth trajectory that Saudi is on and the potential that it has over the next decade." "We are almost an order of magnitude away from where we could be in terms of the fintech revenue and its participation to the economy," the Lean Technologies CEO said."And that gives us the wind behind our sales and the motivation to keep building those tools and the picks and shovels, if you will, to enable those bold innovators to achieve their dreams."

The company works with major local clients like Emirati state telecoms firm e& and ride-hailing super app company Careem, with over $2 billion in total processed volumes, according to its press release issued Sunday.

このニュースをすぐに読めるように要約しました。ニュースに興味がある場合は、ここで全文を読むことができます。 続きを読む:

 /  🏆 524. in JP
 

コメントありがとうございます。コメントは審査後に公開されます。

日本 最新ニュース, 日本 見出し

Similar News:他のニュース ソースから収集した、これに似たニュース記事を読むこともできます。

How Republicans pushed Silicon Valley social media companies to stop fighting election misinformationThe shift took place against the backdrop of an intimidation campaign led by Republican state and federal lawmakers aimed at forcing social media companies to platform falsehoods and hate speech an…
ソース: mercnews - 🏆 88. / 68 続きを読む »