- Alaan, a UAE-based fintech company, has raised $48 million in one of the largest Series A rounds in MENA history.
- The round was led by Peak XV Partners (formerly Sequoia Capital India & SEA), with strong participation from global and regional investors.
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The funds will support Alaan’s expansion into Saudi Arabia and fuel its growth in AI-powered finance automation.
Alaan, the Middle East’s leading spend management platform for businesses, has announced a $48 million Series A funding round, marking one of the largest in the region’s history.
The round was led by Peak XV Partners (formerly Sequoia Capital India & SEA), with significant participation from 885 Capital founders Sudeep Ramnani and Jai Mahtani, alongside Y Combinator, 468 Capital, and Pioneer Fund. The round was heavily oversubscribed and included both primary and secondary investments.
Several prominent founders and regional operators also joined the round, including:
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Hosam Arab (Founder of Tabby)
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Mudassir Sheikha (Founder of Careem)
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Jeppe Rindom (Founder of Pleo)
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Khalid Al Ameri (Founder of KAM and one of the region’s most influential creators)
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Abdallah Abu-Sheikh (Founder of Astra Tech)
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Yi Wei Ang (CPO of Talabat)
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Parth Garg (Founder of Aspora)
and many more.
The newly secured funds will accelerate Alaan’s expansion into the Saudi market and power the company’s next growth phase, focused on AI-driven finance automation.
“The category has demonstrated strong product-market fit in the MENA region, and Alaan stands out as the category leader, demonstrated by their impressive growth trajectory,”
said GV Ravishankar, Managing Director at Peak XV Partners.
This funding round positions Alaan as a key player in the transformation of finance operations across MENA, as businesses increasingly adopt intelligent, scalable, and AI-enabled financial tools.
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