Fintech company Alaan secure $48 million in Series A funding, aiming to expand the region-wide reach of their AI-driven expense management system across the Middle East and North Africa.
Dubai-Based Alaan Raises $48 Million for AI-Powered Expense Management Solutions
Alaan, a Dubai-based expense management platform, has successfully raised $48 million in Series A funding, with plans to accelerate its expansion across the GCC region, particularly in Saudi Arabia, and focus on deeper product innovation using artificial intelligence (AI).
Founded by Parthi Duraisamy and Karun Kurien in 2022, Alaan has rapidly grown, processing over 2.5 million transactions for more than 1,500 finance teams in the MENA region. Key enterprises such as G42, Careem, Tabby, and Lulu Group are among its clientele. The platform's Saudi Arabia operations have shown impressive growth, with transaction volumes doubling month over month for the past six months, demonstrating strong regional traction.
The fresh capital will be utilised for several purposes:
- Geographical expansion within the GCC, with a focus on the growing market in Saudi Arabia.
- Accelerating the development of an AI-powered finance operations suite, featuring AI agents designed to automate repetitive tasks such as receipt matching, reconciliation, and VAT data extraction.
- Scaling the hiring of sales, customer success, and compliance teams to support growth and market penetration.
Alaan's platform addresses common pain points in regional finance operations, including manual expense filing, receipt matching, and compliance requirements. The company's AI-powered agents are designed to streamline these processes, making finance management more efficient for Middle Eastern businesses.
The funding round was led by Peak XV Partners (formerly Sequoia Capital India & SEA) and 885 Capital, with participation from Pioneer Fund, Y Combinator, and 468 Capital. Alaan's impressive growth and profitability, having spent $5 million to generate $10 million in revenue, are believed to have contributed to its success in securing this significant investment.
With the new funding, Alaan aims to launch new products, including Bill Pay and Rewards Cards, expanding its suite of finance management tools for regional businesses. The company's ultimate goal is to become the full-stack finance operations platform leader in the MENA region.
Alaan claims that its platform has saved finance teams over 1.5 million hours across its customer base in the past three years. With its AI-driven approach, the company is well-positioned to revolutionise finance management in the Middle East.
[1] Alaan Press Release, August 2025. [2] TechCrunch, August 2025. [4] Gulf Business, August 2025.
- Alaan, the Dubai-based platform, aims to revolutionize finance management in the Middle East by focusing on deeper product innovation using artificial intelligence (AI), such as developing AI agents to automate repetitive tasks like receipt matching, reconciliation, and VAT data extraction in its finance operations suite.
- As part of its geographical expansion plans within the GCC, Alaan intends to utilize the $48 million Series A funding to launch new products like Bill Pay and Rewards Cards, potentially attracting more business clients in the region and positioning itself as the full-stack finance operations platform leader in the MENA region.
