Alaan Raises $48 Million to Equip MENA Finance Teams with AI Agents

Alaan, a financial OS for corporates simplifying corporate cards, expense management, and AI automation, led by Parthi Duraisamy and Karun Kurien, has raised $48 million in Series A led by Peak XV Partners (formerly Sequoia Capital India & SEA) and 885 Capital, and was also joined by Pioneer Fund, with continued support from Y Combinator and 468 Capital. Backing by some of the region's leading operator angels - Hosam Arab (Founder of Tabby), Mudassir Sheikha (Founder of Careem), Jeppe Rindom (Founder of Pleo), Parth Garg (Founder of Aspora), Khalid Al Ameri (Founder of KAM and the Middle East’s most well-known creator), Abdallah Abu-Sheikh (Founder of Astra Tech), Yi Wei Ang (CPO of Talabat), and many others, makes it even more special for Alaan.

Alaan’s AI agents automate repetitive finance tasks, saving time, reducing errors, and freeing teams for higher-value work. Tools like Alaan Drop match receipts to transactions automatically, while memo and categorization agents suggest relevant details using historical data. The VAT agent ensures maximum tax recovery by extracting invoice details and flagging issues. Together, these agents have saved finance teams over 1.5 million hours in the past three years.

With fresh funding, Alaan is accelerating expansion in Saudi Arabia and the UAE, while advancing its AI-powered finance agents and product suite. The company is investing in localized features tailored to Saudi tax rules and workflows, addressing an underserved market amid rapid digital transformation. Alaan is also growing its lineup of specialized agents that automate reviews, flag anomalies, and sync data seamlessly. New offerings like Bill Pay and Rewards Cards further streamline spend management and empower finance teams across the region.