Alaan raises $48m to fuel GCC FinTech expansion

By Vriti Gothi

Alaan, a FinTech redefining corporate financial management in the Middle East, has raised $48 million Series A funding round.

The round was led by Peak XV Partners (formerly Sequoia Capital India & SEA), alongside a consortium of leading global and regional investors, marking a significant milestone in Alaan’s growth journey across the Gulf Cooperation Council (GCC).

Positioned at the intersection of financial technology and operational efficiency, Alaan offers an integrated spend management platform that empowers businesses to seamlessly issue corporate cards, automate expense reporting, and streamline payment workflows. The platform’s modern infrastructure is designed to eliminate financial friction, enhance control, and improve visibility across enterprise transactions.

This strategic capital infusion will support Alaan’s ambitious expansion plans, with a primary focus on scaling operations in the Kingdom of Saudi Arabia, a rapidly growing Fintech hub. The company will also continue to strengthen its UAE footprint, deepen its regional presence, and accelerate the rollout of its next-generation AI-driven finance operations suite.

With a strong emphasis on innovation and customer-centric design, Alaan is developing intelligent automation tools, including AI agents that can independently perform routine finance tasks, ushering in a new era of autonomous finance. These advancements are expected to significantly enhance productivity for finance teams and further differentiate Alaan in a competitive regional market.

The funding also reinforces investor confidence in the company’s vision to reshape how businesses in the GCC manage corporate finances driven by a commitment to compliance, agility, and digital transformation.