VC React Podcast (Episode #19)

In this week's episode, we unpacked Lean Technologies' $67.5 million Series B round, led by General Catalyst — the firm's first investment in Saudi Arabia — exploring what’s driving global players to the region, the ripple effects, and challenges in scaling A2A payments in a market reliant on intermediaries.

Next, with Talabat’s IPO set for December 10 on the Dubai Financial Market, we highlighted its impressive figures: 6 million active users, $5.4 billion GMV, and $354 million adjusted EBITDA, questioning whether its debt-free status and diversification into new verticals signify strategic foresight or risky pre-IPO hype.

Then, we turned to Writer, which has just raised $200 million in a Series C at a $1.9 billion valuation to expand its enterprise AI platform. Founded by May Habib and Waseem AlShikh, who previously launched Dubai-based Qordoba, we speculated on the absence of MENA VC backing and debated the future dominance of B2B versus consumer AI.

Last but by no means least, we discussed Abdallah Abu Sheikh’s exit from Astra Tech, the UAE-based fintech and owner of the video-calling app Botim.

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This week Ahmad and I had the pleasure to be joined by:

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Omar Sati (Managing Partner @ Dash Ventures)

Yana El Dirani (Head of MENA @ Endeavor Catalyst)

Zafer Younis (Founder & CEO @ Silicon Valley Venture & Innovation (SVVI))

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We covered:

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

📌 Talabat Eyes IPO That May Value It More Than Delivery Hero

📌 Generative AI startup Writer raises $200M at a $1.9B valuation

📌 Astra Tech founder Abdallah Abu Sheikh is selling his stake, steps down as CEO

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