Alaan, a Dubai-based fintech company that automates workplace expense management, has secured $48 million in fresh funding to accelerate its regional expansion. The investment round was led by Peak XV Partners (formerly Sequoia India & SEA) and 885 Capital, alongside early backers from top MENA startups like Tabby and Careem.
Founded in 2022, Alaan offers businesses an AI-powered platform that helps eliminate tedious manual processes around employee reimbursements, lost receipts, and policy violations. The tool combines smart software with physical and virtual business cards, giving finance teams a real-time overview of company spending.
💰 Alaan by the Numbers:
$10 million annual revenue
$5 million in annual costs
Over 1,500 UAE-based businesses already using Alaan (including G42, Lulu Group, Careem, and Tabby)
Expanded to Saudi Arabia in early 2025
Previously raised $4.5M in 2023
According to Alaan, the platform not only cuts hours of manual work for finance teams but also helps reduce fraud, errors, and non-compliant spending — all with a regional-first approach and AI features tailored to MENA markets.
🌍 Why It Matters:
While similar solutions exist globally, Alaan stands out by designing specifically for GCC companies and local workflows. With rising demand for “autonomous finance,” this milestone shows how Gulf-born tech is solving Gulf-specific challenges — and scaling fast.