logo
Alaan Raises $48 Million in Series A to Accelerate AI-Powered Finance Automation in MENA

Alaan Raises $48 Million in Series A to Accelerate AI-Powered Finance Automation in MENA

Dubai, United Arab Emirates--(Newsfile Corp. - August 5, 2025) - Alaan, a UAE-based corporate spend management platform, has announced the successful close of its $48 million Series A funding round, marking one of the largest fintech Series A rounds in the Middle East.
Founded in 2022, Alaan provides businesses across the MENA region with corporate cards and an integrated platform that automates expense management, reconciliation, and payment workflows. The company's latest funding will enable deeper expansion across the GCC, particularly in the Kingdom of Saudi Arabia, and accelerate development of its AI-powered finance operations suite.
The Series A round was led by Peak XV Partners (formerly Sequoia Capital India & SEA), with participation from international and regional investors. The capital includes a mix of primary and secondary investment.
Since its inception, Alaan has processed over 2.5 million transactions and is used by more than 1,500 finance teams in the region. The company reports significant growth in its recently launched Saudi Arabia operations, with transaction volumes doubling month over month for the past six months.
The new capital will support further product innovation focused on AI agents for finance teams. These agents are designed to reduce time spent on manual tasks such as receipt matching, reconciliation, and VAT data extraction. The company aims to expand its offering into a full-stack finance operations platform, helping businesses gain greater control and visibility over their spending.
Alaan also plans to strengthen its UAE base while scaling teams across sales, customer success, and compliance to support regional clients.
About Alaan
Alaan is a corporate spend management platform headquartered in Dubai, UAE. Founded in 2022 by Parthi Duraisamy and Karun Kurien, Alaan enables businesses to issue corporate cards, manage expenses, and automate financial workflows. The platform is used by a wide range of companies in sectors including retail, logistics, and services.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Businesses supporting Sask. daycares suffering due to $10-a-day childcare uncertainty
Businesses supporting Sask. daycares suffering due to $10-a-day childcare uncertainty

CTV News

time10 hours ago

  • CTV News

Businesses supporting Sask. daycares suffering due to $10-a-day childcare uncertainty

Uncertainty over the future of $10-a-day childcare in Saskatchewan is having a ripple effect on other sectors of the province's economy. One local manufacturer of daycare furniture says business is evaporating because of the unpredictability. 'With things like shelving, lockers, anything that a school wants made out of wood and they want to purchase it locally and we love filling that gap,' Kustom Kitties Canada owner Quinn Nikoluk told CTV News. Kustom Kitties operates out of Southey, Sask. Nikoluk says business has declined 80 per cent as daycares face uncertainty over future government funding. 'What should have been a banner year has nosedived over the last two months,' Nikoluk explained. 'We've had several large contracts just evaporate and what we're hearing again and again is, 'We don't know if we're going to have funds. We don't know if we're going to have funds. We don't know if we're going to have funds.'' Saskatchewan and Alberta are the only provinces that have yet to renew a federal funding agreement that provides $10-a-day childcare. The current agreement expires next March. The NDP Opposition is calling for some assurances. 'There's lots of things they could be doing here at home while they're waiting to get all the details signed if that's what they're working on and I will take their words for it that they are,' MLA Joan Pratchler told CTV News. 'So, the things you can work on here at home is emergency funding for those childcare centres who are on the verge of closing because they have had to use up all their reserves.' In a written statement, the provincial government said it has been clear in its commitment to signing an extension to the current agreement. 'We continue to work toward achieving the best result for Saskatchewan,' it read. The province says it is seeking an agreement that will further benefit families and childcare providers. That assurance may not be enough for a childcare sector that is now closely monitoring its spending as a precaution.

Menos AI Launches Institutional-Grade AI for Hedge Funds and Asset Managers, Starting with an AI Idea-Generation Agent
Menos AI Launches Institutional-Grade AI for Hedge Funds and Asset Managers, Starting with an AI Idea-Generation Agent

National Post

time15 hours ago

  • National Post

Menos AI Launches Institutional-Grade AI for Hedge Funds and Asset Managers, Starting with an AI Idea-Generation Agent

Article content SAN JOSE, Calif. — Menos AI, an AI-native fintech built by and for investment professionals, today announced its public launch. Its flagship product, Sonαr, is an intelligent research agent that helps hedge funds and institutional investors uncover timely, differentiated ideas amid information overload. Sonαr is currently rolling out to select partner funds ahead of a broader release. Article content Founded by investment veterans and AI experts, Menos AI is backed by a $5.2 million oversubscribed seed round led by prominent Silicon Valley family offices and venture capital firms. Article content Sonαr: Distilling Alpha from Information Overload Article content Portfolio managers and analysts navigate a constant flood of market updates, sell-side content, third-party research reports, and internal memos. Sonαr cuts through the noise and surfaces alpha-generating insights that might otherwise be overlooked. Developed with leading global macro and multi-strategy hedge funds, Sonαr uses proprietary Alpha Signal Extraction to identify ideas with novelty, timeliness, and market relevance. Its forthcoming Voice Scoring capability can spotlight contributors who are consistently early and accurate — amplifying insights backed by proven track records and exposing areas where further due diligence can lead to an edge. Article content 'Alpha doesn't scream. It whispers,' said William Wu, Co-founder and CEO. 'Sonαr helps investment teams hear it early — and act with clarity.' Article content Built to Scale with Investment Teams Article content Menos AI's mission is helping institutional investors build firm-specific AI capabilities. Their secure, domain-specific agent platform delivers seamless enterprise integration with customers' workflows and preferred internal and external sources, delivering significant time savings from idea discovery to research and middle-office support — enabling managers to focus on strategic, differentiated thinking. Article content 'The next generation of high-performing investment teams will be human–machine hybrids,' Article content said Chris Yang, Co-founder and Chief AI Scientist. Article content 'Menos AI helps firms build their AI edge.' Article content added Xiang Pan, Co-founder and CTO. Article content 'We're building infrastructure investment teams can trust.' Article content About Menos AI Article content Article content Article content Article content

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store