📝 Alaan raises $48M

Liam Gill
August 07, 2025

News of the Day

Alaan, a UAE-based spend management startup founded by ex-McKinsey consultants Parthi Duraisamy and Karun Kurien, has raised $48 million in one of MENA’s largest fintech Series A rounds, led by Peak XV Partners. The platform, used by 1,500+ finance teams including Careem and Tabby, streamlines corporate expenses and VAT compliance using AI-driven automation. Despite early regulatory hurdles delaying launches in the UAE and Saudi Arabia, Alaan has processed 2.5 million transactions and turned profitable, generating $10M in revenue from $5M in spend. With this funding, Alaan plans to expand its footprint in Saudi Arabia and double down on automating finance operations across the region.

VCs have forgotten that their job is to meet founders in real life.
– One VC flew 8 hours to meet the team and have dinner. He stole the deal from 10 others.
– Another VC asked the team to fly 6 hours to meet them to make a decision (lol).
Zoom investing isn’t it.
— Hubert Thieblot (@hthieblot)
4:42 PM • Aug 5, 2025

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Liam Gill