Alaan Raises $48M to Advance AI in Business Finance Across the Gulf

Alaan Secures $48M to Scale AI-Driven Finance in GCC

Alaan, a MENA-based fintech focused on AI-driven finance, has secured $48 million in a major Series A funding round. The funding marks a strong endorsement of Alaan’s rapid rise as a financial automation platform in the Middle East.

This investment round was led by Peak XV Partners, formerly Sequoia Capital India & SEA, and drew participation from both global and regional backers. The deal included a strategic mix of primary and secondary investments, further underlining investor confidence in Alaan’s business model.

Founded in 2022, Alaan aims to transform how companies across the Gulf manage spending with greater control, visibility, and efficiency. Its platform combines corporate cards with real-time expense tracking, reconciliation workflows, and embedded AI automation.

Fueling a Rapid Expansion Across the GCC

With this capital boost, Alaan plans to aggressively expand throughout the Gulf Cooperation Council, beginning with Saudi Arabia’s booming fintech sector. Saudi Arabia’s fintech-friendly policies and business ecosystem present an ideal springboard for Alaan’s regional growth efforts.

According to the company, transaction volumes in Saudi Arabia have doubled each month for the past six months. This strong early momentum supports Alaan’s strategy to localize and scale AI-driven finance capabilities tailored to Saudi businesses.

Beyond Saudi Arabia, Alaan also intends to strengthen its presence in the UAE by investing in operational teams and expanding customer-facing roles across sales, compliance, and client support.

Elevating Financial Operations With AI

Alaan’s platform offers much more than just corporate cards. The company has built an entire suite of AI-driven finance tools that automate time-consuming finance functions for businesses of all sizes.

Its AI agents assist finance teams by automating receipt matching, reconciliation, and extracting VAT data with speed and accuracy. These tools are designed to free up teams from manual work while improving control and compliance across company spending.

The platform’s success lies in how it embeds AI into every financial operation, not just at the front end but also within back-office workflows. This positions Alaan as a next-generation solution for modern CFOs and controllers across the Middle East.

Fast Growth and Regional Traction

Alaan’s ability to demonstrate traction early has clearly resonated with investors. The platform has already processed over 2.5 million transactions across the region. More than 1,500 finance teams now rely on its tools for everyday operations.

With increasing demand for AI-driven finance, the company is scaling its engineering and product teams to meet evolving needs. It is also building on strategic partnerships to deepen market integration and compliance in every new region it enters.

Alaan has positioned itself as both a financial services platform and a technology company, offering speed, intelligence, and user experience that legacy providers often lack.

A Platform Built for Scale and Simplicity

Unlike traditional finance software, Alaan was built from the ground up with a focus on usability, automation, and modern infrastructure. Its interface is intuitive, allowing businesses to issue cards instantly, set smart spending limits, and reconcile expenses in real time.

The firm plans to innovate even further on its AI agents, ensuring that tasks like transaction tagging and audit reporting become fully autonomous. This roadmap aligns with the company’s vision of redefining how businesses manage expenses through AI-driven finance.

As the competition heats up in the region’s finance automation space, Alaan’s early lead in AI adoption may prove to be a long-term advantage.

Confidence from Global and Local Investors

Peak XV’s leadership in this round reflects growing international belief in the strength of MENA’s fintech market. Their support, along with that of regional investors, gives Alaan a powerful launchpad for its next phase of growth.

The combination of financial backing, strong regional traction, and a robust AI product suite reinforces Alaan’s strategy. With this round, the firm is better positioned to push the boundaries of AI-driven finance in the Middle East.

Alaan’s CEO emphasized that the funding will help build one of the region’s most comprehensive finance operations platforms—one designed not just to manage spending, but to optimize it intelligently.

Looking Ahead

As finance teams across the GCC continue to modernize, the demand for smarter, AI-powered tools is accelerating. Alaan’s success signals a growing shift toward platforms that prioritize real-time insights, automation, and adaptability.

With $48 million in fresh capital, Alaan is now set to lead this wave of digital transformation in corporate finance across the Middle East.

By focusing on AI-driven finance and regional expansion, Alaan is not only serving unmet needs—it is setting a new standard for what finance operations can be.

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