Dubai-based fintech platform Alaan has raised $48 million in Series A funding to fuel its growth across the Gulf Cooperation Council (GCC), with a particular focus on Saudi Arabia.
The funding round attracted major investors, including Peak XV Partners (formerly Sequoia Capital India & SEA), along with other prominent regional and global backers. This significant investment marks a pivotal milestone for Alaan as it seeks to deepen its footprint in the regional fintech landscape.
Alaan offers innovative corporate expense management solutions, helping businesses manage their finances more efficiently. Its services include the issuance of smart corporate cards, automated expense tracking, and streamlined payment and reconciliation workflows.
With this fresh injection of capital, Alaan plans to:
- Expand operations into new GCC markets, especially Saudi Arabia
- Strengthen its presence in the United Arab Emirates
- Scale its teams across key departments
- Accelerate the development of its AI-powered finance operations suite, including the launch of intelligent AI agents to automate repetitive financial tasks
The funding reinforces Alaan’s position as a rising fintech innovator in the Middle East, poised to drive digital transformation in corporate finance.
