Venture capital and venture-building firm 1957 Ventures made a significant impact at the Money20/20 Middle East conference by announcing a strategic partnership with Saudi venture builder Lean Node. The two firms are joining forces to launch the “Fintech & AI Foundry,” a new platform designed to empower entrepreneurs and accelerate the growth of early-stage companies in the Kingdom.
Launching The Fintech & AI Foundry
The Fintech & AI Foundry is a joint initiative aimed at transforming promising ideas into scalable, revenue-generating startups. The platform will provide entrepreneurs in the financial technology and artificial intelligence sectors with a comprehensive support system, including practical programs like hackathons and project development courses. Successful projects emerging from the foundry will receive direct funding and hands-on support. Abdullah Al-Zaini, SVP of Portfolio Management at 1957 Ventures, stated, “We are working to remove obstacles for startups and ensure that promising ideas do not remain just plans on paper.” Abdulrahman Al-Zaid, CEO of Lean Node, added that the partnership “represents an integration of financing, practical experience, and modern technologies,” giving founders a prime opportunity to launch efficiently.
Showcasing AI-Powered Founder Tools
Alongside the partnership announcement, 1957 Ventures showcased its suite of internally developed AI solutions at the conference. These tools are tailored to support FinTech founders in Saudi Arabia and include interactive AI demonstrations in Arabic, real-time investment pitch analysis, and AI-powered advisory systems. The technologies are designed to help startups navigate regulatory requirements, enhance their investment readiness, and speed up their transition from concept to a successful venture.
A Dual Role As Investor And Builder
This dual announcement highlights 1957 Ventures’ unique market position as both a strategic investor and a hands-on company builder. With over SAR 800 million in capital and the backing of Riyad Bank and Riyad Capital, the firm is dedicated to advancing the financial services sector in line with Saudi Arabia’s Vision 2030. By providing both funding and direct operational support, the firm plays an active role in strengthening the Kingdom’s innovation ecosystem and establishing it as a global hub for technology.
About 1957 Ventures
1957 Ventures is a prominent venture capital and venture-building platform in Saudi Arabia. Supported by Riyad Bank and Riyad Capital, it focuses on investing in and developing companies within the financial services and FinTech sectors to foster innovation and contribute to the local economy.
About Lean Node
Lean Node is a Saudi-based venture studio that specializes in building and scaling technology startups. The firm partners with entrepreneurs to develop their ideas into successful businesses by providing operational expertise, resources, and a structured development process.
Source: Jawlah
