When Parthi Duraisamy was a consultant at McKinsey’s Dubai office, he discovered that the American Express cards his company relied on for corporate

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Alaan, a Dubai-based spend management platform, raised $48 million in Series A funding led by Peak XV Partners, marking one of the largest Series A rounds for fintech in the MENA region. Founded by former McKinsey consultants to solve corporate expense pain points in the Middle East, the company has processed over 2.5 million transactions for 1,500+ finance teams. Alaan leverages AI for automated receipt matching, reconciliation, and VAT extraction, claiming to save finance teams over 1.5 million hours of manual work. The profitable company plans to use the funding to expand in Saudi Arabia and enhance AI-driven automation features.

AI-powered fintech Alaan raises $48M, one of the largest Series A rounds in MENA

Tech and VC heavyweights join the Disrupt 2025 agenda