Latest news with #KarenKurien
Time of India
05-08-2025
- Business
- Time of India
Peak XV Partners leads $48 million round in Dubai-based spend management startup Alaan
Academy Empower your mind, elevate your skills Venture capital (VC) firm Peak XV Partners has led a $48 million funding round in Alaan , a spend management platform headquartered in startup, founded by Indian-origin Parthi Duraisamy and Karen Kurien, caters to the West Asia market. Currently, it is offering spend management to some prominent corporations operating in that round also saw participation from founders of 885 Capital, Sudeep Ramnani and Jai Mahtani, Y Combinator, 468 Capital, and Pioneer Fund. It was a mix of primary and secondary capital, the company said in a press release.A bunch of startup founders active in the Gulf region, including Hosam Arab, founder of financial services app Tabby; Mudassir Sheikha, founder of ride-hailing platform Careem; prominent YouTuber Khalid Al Ameri; and Parth Garg, founder of cross-border payments startup Aspora, also invested in the company. ET reported in June 2025 that London-headquartered Aspora raised a major funding round from Peak XV Partners. Peak XV Partners originally split from Sequoia Capital to focus on investments in India and Southeast Asia. But now the venture capital firm has started taking bets in other geographies as well.'The category has demonstrated strong product-market fit in the MENA (Middle East and North Africa) region, and Alaan stands out as the category leader, demonstrated by their impressive growth trajectory,' said GV Ravishankar, managing director at Peak XV launching in 2022, Alaan has processed over 2.5 million transactions and works with over 1,500 finance teams at leading companies such as G42, Careem, Tabby, Lulu Group, Rivoli, and others. The company launched in the Kingdom of Saudi Arabia earlier this and Kurien, both previously with McKinsey , launched this startup intending to make expense management simple and digital. The startup uses AI to smooth manual work around reconciliation and processing of transactions and settlement of claims generated by employees of its client organisations.
Economic Times
05-08-2025
- Business
- Economic Times
Peak XV Partners leads $48 million round in Dubai-based spend management startup Alaan
ETtech Venture capital (VC) firm Peak XV Partners has led a $48 million funding round in Alaan, a spend management platform headquartered in startup, founded by Indian-origin Parthi Duraisamy and Karen Kurien, caters to the West Asia market. Currently, it is offering spend management to some prominent corporations operating in that region. The round also saw participation from founders of 885 Capital, Sudeep Ramnani and Jai Mahtani, Y Combinator, 468 Capital, and Pioneer Fund. It was a mix of primary and secondary capital, the company said in a press release. A bunch of startup founders active in the Gulf region, including Hosam Arab, founder of financial services app Tabby; Mudassir Sheikha, founder of ride-hailing platform Careem; prominent YouTuber Khalid Al Ameri; and Parth Garg, founder of cross-border payments startup Aspora, also invested in the company. ET reported in June 2025 that London-headquartered Aspora raised a major funding round from Peak XV Partners. Peak XV Partners originally split from Sequoia Capital to focus on investments in India and Southeast Asia. But now the venture capital firm has started taking bets in other geographies as well. 'The category has demonstrated strong product-market fit in the MENA (Middle East and North Africa) region, and Alaan stands out as the category leader, demonstrated by their impressive growth trajectory,' said GV Ravishankar, managing director at Peak XV launching in 2022, Alaan has processed over 2.5 million transactions and works with over 1,500 finance teams at leading companies such as G42, Careem, Tabby, Lulu Group, Rivoli, and others. The company launched in the Kingdom of Saudi Arabia earlier this year. Duraisamy and Kurien, both previously with McKinsey, launched this startup intending to make expense management simple and digital. The startup uses AI to smooth manual work around reconciliation and processing of transactions and settlement of claims generated by employees of its client organisations. Elevate your knowledge and leadership skills at a cost cheaper than your daily tea. Can Coforge's ambition to lead the IT Industry become a reality? BlackRock returns, this time with Ambani. Will it be lucky second time? Amazon is making stealthy moves in healthcare, here's why! The trader who blew the whistle on Jane Street Stock Radar: Globus Spirits breaks out from 9-month consolidation; check target & stop loss for long positions Weekly Top Picks: These stocks scored 10 on 10 on Stock Reports Plus These large-caps have 'strong buy' & 'buy' recos and an upside potential of more than 25% Stock picks of the week: 5 stocks with consistent score improvement and upside potential of up to 36% in 1 year
