US EditionAI-Powered Fintech Alaan Raises $48M, One of the Largest Series A Rounds in MENA
DUBAI, UNITED ARAB EMIRATES, AUG 5 – Alaan's $48 million Series A funding will boost AI-driven finance automation and new product launches, with transaction volumes doubling month-over-month, the company said.
- At the TechCrunch event in San Francisco, ALAAN secured $48 million in Series A funding, ranking among the region’s largest fintech rounds led by Peak XV Partners.
- Frustrated by corporate card rejections, Parthi Duraisamy and Karun Kurien built ALAAN after Duraisamy discovered American Express cards were rarely accepted in the Middle East while consulting at McKinsey’s Dubai office.
- Using AI for receipt matching, reconciliation, and VAT extraction, Alaan processed over 2.5 million transactions for more than 1,500 finance teams and claims to have saved over 1.5 million hours.
- With fresh funding, ALAAN plans to scale hiring across sales, customer success, and compliance and expand in the UAE and Saudi Arabia while enhancing its AI-powered finance suite.
- Earlier this year in Saudi Arabia, Alaan launched after years of licensing approvals and has doubled transaction volumes month on month for six months straight.
Insights by Ground AI
Does this summary seem wrong?
13 Articles
13 Articles
Gulf NewsReposted by 
Khaleej Times
Khaleej TimesFintech Alaan raises $48 million to equip MENA finance teams with AI agents
The round was heavily oversubscribed and includes both primary and secondary funding
·Dubai, United Arab Emirates
Read Full Article
Pakistani Startup Icon Backs UAE Fintech’s Record $48M Funding
Mudassir Sheikha, the founder of Careem, has joined a group of angel investors backing UAE fintech Alaan in its record $48 million Series A round. This investment is a major milestone for MENA’s fintech sector as Alaan accelerates its expansion with AI-powered spend management tools. Alaan’s $48 Million Series A Draws Star Investors Alaan raised […] The post Pakistani Startup Icon Backs UAE Fintech’s Record $48M Funding appeared first on TechJui…
Coverage Details
Total News Sources13
Leaning Left1Leaning Right3Center1Last UpdatedBias Distribution60% Right
Bias Distribution
- 60% of the sources lean Right
60% Right
L 20%
C 20%
R 60%
Factuality
To view factuality data please Upgrade to Premium
