Ajman Bank Hosts Strategic Corporate Tax Seminar to Empower UAE Businesses
Ajman Bank continues to strengthen its role as a trusted advisor to the SME sector, providing not only financial solutions but also business intelligence and thought leadership as part of its holistic approach to client success.
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Wamda
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Alaan raises $48 million Series A to transform spend management in MENA
UAE-based B2B fintech Alaan has raised $48 million in a Series A funding round led by Peak XV Partners (formerly Sequoia Capital India) and joined by Pioneer Fund, 885 Capital, Y Combinator, 468 Capital, and angel investors. Founded in 2022 by Parthi Duraisamy and Karun Kurien, Alaan allows businesses to manage finances through card issuing and automated date extraction and consolidation. After extending its services to Saudi earlier this year, Alaan will use the funds to expand its operations across the MENA region and enhance its product offerings. In 2023, Alaan closed a pre-Series A of $4.5 million, backed by Presight Capital, Y Combinator, and angel investors. Press release: Alaan, the Middle East's leading AI-powered spend management platform, has raised $48 million in a Series A funding round. The round was led by Peak XV Partners (formerly Sequoia Capital India & SEA), with participation from 885 Capital, Y Combinator, 468 Capital, and Pioneer Fund. Notable investors include founders of unicorn companies such as Tabby and Careem, as well as prominent regional figures like Khalid Al Ameri. Founded by former McKinsey consultants Parthi Duraisamy and Karun Kurien, Alaan addresses the unique challenges faced by finance teams in the MENA region. The platform offers a comprehensive solution for managing corporate expenses, integrating seamlessly with local banking systems and providing features like real-time expense tracking and AI-driven insights. This funding will enable Alaan to expand its operations across the MENA region, enhance its product offerings, and further solidify its position as a leader in the fintech space.
Jordan Times
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MadfoatCom is officially certified as a Great Place To Work® in Jordan
MadfoatCom, a pioneering company in the financial technology sector in Jordan, has been certified for the first time as a Great Place To Work, following the Great Place To Work assessment, based on employee feedback and workplace culture practices. This certification marks a significant milestone for MadfoatCom, which has consistently demonstrated a commitment to fostering a positive, inclusive, and empowering work environment. The results of the Great Place To Work Trust Index survey confirmed that the company's team feels trusted, respected, and proud to be part of the organization. In a related statement, Christie Janho, Director of Great Place To Work Jordan, said: 'Jordan is emerging as a regional hub for fintech innovation, and organizations like MadfoatCom are leading the way. Their success is built not only on cutting-edge technology but also on the strength of their people and culture. Creating a workplace where employees feel valued and inspired is a key driver of long-term success. We congratulate the entire team at MadfoatCom for this well-deserved recognition and warmly welcome them to the growing Great Place To Work community in Jordan.' In a related statement from the company: "At MadfoatCom, we believe that meaningful innovation is rooted in an environment where employees feel recognized, supported, and empowered. Great Place to Work certification is a recognition which affirms that building a leading fintech company starts with building a culture rooted in trust, inclusion, and shared purpose. Our team is the beating heart of our innovation, the drivers of our mission, and the reason we continue to lead. We're not only advancing digital financial services across the region; we're creating a workplace where every voice matters and every contribution leaves a mark." About MadfoatCom: MadfoatCom is a leading fintech company in Jordan focused on electronic bill presentment and payment (EBPP). We offer governments, banks, and enterprises a secure, real-time platform that enables digital bill inquiries, payments, and reconciliations. By bridging the gap between billers and payers, our solutions improve operational efficiency, enhance transparency, and support financial inclusion. Operating across multiple countries, MadfoatCom is committed to driving innovation in public and private sector payment ecosystems, making everyday financial interactions smarter, faster, and more reliable.
Jordan Times
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Prime minister to introduce ‘major' reshuffle to his Cabinet Wednesday
AMMAN — Prime Minister Jafar Hassan is scheduled to introduce a major reshuffle to his Cabinet on Wednesday, the first since the government took office in September last year. The prime minister's office said the reshuffle will be broad, affecting nearly one-third of the ministerial team and half of the modernisation team. The office said that the reshuffle aims to support the government with new capabilities, build on achievements and keep pace with the speed required to implement modernisation projects. The government is currently preparing to launch the second executive programme of the vision, it said.
