Dubai, United Arab Emirates--(Newsfile Corp. - August 5, 2025) - Alaan, a UAE-based corporate spend management platform, has announced the successful close of its $48 million Series A funding round, marking one of the largest fintech Series A rounds in the Middle East.

(Left) Karun Kurien, Co-founder and CPO of Alaan (Right) Parthi Duraisamy, Co-founder and CEO of Alaan

Founded in 2022, Alaan provides businesses across the MENA region with corporate cards and an integrated platform that automates expense management, reconciliation, and payment workflows. The company's latest funding will enable deeper expansion across the GCC, particularly in the Kingdom of Saudi Arabia, and accelerate development of its AI-powered finance operations suite.

The Series A round was led by Peak XV Partners (formerly Sequoia Capital India & SEA), with participation from international and regional investors. The capital includes a mix of primary and secondary investment.

Since its inception, Alaan has processed over 2.5 million transactions and is used by more than 1,500 finance teams in the region. The company reports significant growth in its recently launched Saudi Arabia operations, with transaction volumes doubling month over month for the past six months.

The new capital will support further product innovation focused on AI agents for finance teams. These agents are designed to reduce time spent on manual tasks such as receipt matching, reconciliation, and VAT data extraction. The company aims to expand its offering into a full-stack finance operations platform, helping businesses gain greater control and visibility over their spending.

Alaan also plans to strengthen its UAE base while scaling teams across sales, customer success, and compliance to support regional clients.

About Alaan

Alaan is a corporate spend management platform headquartered in Dubai, UAE. Founded in 2022 by Parthi Duraisamy and Karun Kurien, Alaan enables businesses to issue corporate cards, manage expenses, and automate financial workflows. The platform is used by a wide range of companies in sectors including retail, logistics, and services.

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