AI-powered fintech Alaan secures $48M in major Series A funding
Dubai-based Alaan, a corporate spend management platform using artificial intelligence, has raised $48 million in a Series A funding round. The round, one of the largest in the Middle East and North Africa (MENA) to date, was led by US-based venture capital firm March Capital. Founded by former McKinsey consultants, Alaan helps companies automate expense reporting and card issuance, and plans to expand across the Gulf and into South Asia.
Alaan’s success reflects growing regional investor confidence in fintech innovation and the expanding role of AI in enterprise finance tools.
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