Alaan raises $48 mn in round led by Peak XV

Alaan, a UAE-based spend management platform, secured $48 million in a Series A round led by Peak XV Partners. The funding will fuel expansion in Saudi Arabia and the development of AI-driven finance automation tools. Founded in 2022, Alaan offers corporate cards and expense management solutions, serving over 1,500 finance teams and processing over 2.5 million transactions.