General Catalyst, a Silicon Valley venture capital firm with $30 billion in assets under management, has made its first investment in Saudi Arabia by participating in fintech startup Lean Technologies’ $67.5 million Series B round. Other investors included Bain Capital Ventures, Stanley Druckenmiller’s Duquesne Family Office, and Arbor Ventures, bringing Lean Technologies’ total funding to over $100 million. This investment signifies confidence in Saudi Arabia’s growth trajectory and Vision 2030 initiative, with fintech playing a pivotal role in diversifying the economy and creating new opportunities for the young Saudi workforce.
Full Article
Keir Starmer Will Face Down Labour Rebels To Slash Billions From Welfare Budget
A former Tory Cabinet minister expressed support for Labour's controversial plans to slash £6 billion from the welfare bill, questioning if the Tories could have done the same. The decision to cut from welfare, raid the international development budget, and remove winter fuel payments were not in Labour's election manifesto, causing backlash from MPs and voters alike. Despite criticism, Downing Street remains firm in their decision, citing the need to rewire the economy and prioritize...
Read more