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Overview
AlaanPay helps businesses manage expenses with unlimited physical and virtual multi-currency corporate cards and per-card spending controls. It automates expense reporting by letting team members submit receipts online and auto-verify them for finance review. Real-time transaction alerts and built-in spend analytics provide visibility and identify savings opportunities, with cashback benefits reported by customers. Its goal is to help businesses optimize spending, reduce manual work in expense management, and improve financial visibility.
About Alaan
Industries
Data & Analytics
Enterprise Software
Fintech
Financial Services
Company Size
201-500
Company Stage
Series A
Total Funding
$55.1M
Headquarters
Dubai, United Arab Emirates
Founded
2021
Simplify's Take
What believers are saying
- $48M Series A by Peak XV fuels Saudi expansion and AI enhancements post-2025.
- Processed 2.5M transactions for 1,500+ teams including G42, Careem, Tabby profitably.
- Integrates with ERPs, Visa for free/low-cost automation serving UAE/GCC enterprises.
What critics are saying
- Saudi/UAE regulators block SuperPay™ cross-border flows within 6-12 months.
- FAB, Emirates NBD displace Alaan's mid-market base in 12-18 months.
- Losing Careem/Tabby cuts 15-25% volume as funding dries in 12-24 months.
What makes Alaan unique
- Alaan issues unlimited physical/virtual multi-currency cards with tailored spend controls.
- SuperPay™ automates AP with AI invoice extraction and zero-fee international transfers.
- AI handles receipt matching, VAT extraction, saving 1.5 million finance hours since 2022.
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Funding
Total Funding
$55.1M
Above
Industry Average
Funded Over
4 Rounds
Y CombinatorIndustry standards
Benefits
Flexible Work Hours
Competitive Salary
Company Equity
Phone/Internet Stipend
Gym Membership
Growth & Insights and Company News
6 month growth
↓ -14%1 year growth
↓ -14%2 year growth
↓ -33%Alaan has expanded its presence in Saudi Arabia and announced the closing of its Series A funding round, led by Sequoia, during the Money20/20 Middle East conference.
Alaan, the Middle East’s leading spend management platform for businesses, has raised $48 million - one of the largest Series A funding rounds in the history of the region.
Alaan, a leading Middle East spend management platform, secured $48 million in Series A funding led by Peak XV Partners. Co-founded by Parthi Duraisamy and Karun Kurien, Alaan overcame regulatory challenges in the UAE and Saudi Arabia. The platform, which integrates AI for finance automation, has processed over 2.5 million transactions and reached profitability with $10 million in revenue. The funding will support growth in Saudi Arabia and enhance hiring and AI-driven services.
Alaan, launched by two McKinsey alumni, is the Middle East’s leading spend management platform after raising $48 million in Series A funding.
US-based fintech Mesh partners with MRI Software, a global provider of real estate services, to bring unified and optimised spend management to the real estate sector. This partnership aims to improve travel and expense (TE) management, giving MRI clients access to Mesh’s global spending services
Alaan is Hiring for 18 Jobs on Simplify!
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About Alaan
Industries
Data & Analytics
Enterprise Software
Fintech
Financial Services
Company Size
201-500
Company Stage
Series A
Total Funding
$55.1M
Headquarters
Dubai, United Arab Emirates
Founded
2021
Alaan is Hiring for 18 Jobs on Simplify!
Find jobs on Simplify and start your career today