(Left) Karun Kurien, Co-founder and CPO of Alaan (Proper) Parthi Duraisamy, Co-founder and CEO of Alaan
Based in 2022, Alaan gives companies throughout the MENA area with company playing cards and an built-in platform that automates expense administration, reconciliation, and cost workflows. The corporate’s newest funding will allow deeper growth throughout the GCC, notably within the Kingdom of Saudi Arabia, and speed up growth of its AI-powered finance operations suite.
The Sequence A spherical was led by Peak XV Companions (previously Sequoia Capital India & SEA), with participation from worldwide and regional traders. The capital contains a mixture of main and secondary funding.
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Since its inception, Alaan has processed over 2.5 million transactions and is utilized by greater than 1,500 finance groups within the area. The corporate experiences important progress in its not too long ago launched Saudi Arabia operations, with transaction volumes doubling month over month for the previous six months.
The brand new capital will assist additional product innovation centered on AI brokers for finance groups. These brokers are designed to cut back time spent on handbook duties corresponding to receipt matching, reconciliation, and VAT knowledge extraction. The corporate goals to develop its providing right into a full-stack finance operations platform, serving to companies acquire larger management and visibility over their spending.
Alaan additionally plans to strengthen its UAE base whereas scaling groups throughout gross sales, buyer success, and compliance to assist regional shoppers.
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About Alaan
Alaan is a company spend administration platform headquartered in Dubai, UAE. Based in 2022 by Parthi Duraisamy and Karun Kurien, Alaan allows companies to subject company playing cards, handle bills, and automate monetary workflows. The platform is utilized by a variety of firms in sectors together with retail, logistics, and providers.
Supply: Arc Digitech Personal Restricted
