# AI Fintech Alaan Secures $48M Series A for MENA Expansion
_AI fintech Alaan has secured $48 million in Series A funding. Peak XV Partners led the round, with participation from several other investors. This capital will accelerate its MENA expansion and enhance AI-driven spend management solutions._
**Published:** 2025-08-05
**Source:** https://www.startuphub.ai/ai-news/funding-round/2025/ai-fintech-alaan-secures-48m-series-a-for-mena-expansion
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AI-powered fintech [Alaan](https://www.alaan.com/en-sa) has successfully raised $48 million in Series A funding. Peak XV Partners led the round, with participation from 885 Capital, Y Combinator, 468 Capital, and Pioneer Fund. Founders of unicorn customers, including Tabby and Careem, also invested in the round.

Alaan, a leading spend management platform in the Middle East, launched in 2022. The company provides solutions for corporate expense management, automating tasks like receipt matching and VAT extraction. This Series A funding round marks one of the largest for a [fintech](https://www.startuphub.ai/ai-news/funding-round/2025/eventual-secures-7-5m-seed-for-climate-fintech-insurance-ai/) in the MENA region.

## Driving AI-Powered Spend Management

Alaan has processed over 2.5 million transactions for more than 1,500 finance teams. The platform integrates [AI](https://www.startuphub.ai/ai-news/ai-video/2025/klein-transforms-developer-workflow-with-open-source-ai-agents/) to streamline financial operations, saving businesses significant manual work hours. Alaan also pioneered Apple Pay integration for B2B offerings in the region.

The company is profitable, generating $10 million in revenue from a $5 million spend. Alaan recently expanded into Saudi Arabia, doubling transaction volumes monthly. This new capital will accelerate hiring across sales, customer success, and compliance, further enhancing AI-driven finance automation. Competitor [Ramp](https://www.startuphub.ai/ai-news/funding-round/2025/ramp-secures-500m-valuation-soars-to-22-5-billion/) operates in a similar space.
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Original analysis from [startuphub.ai](https://www.startuphub.ai), the #1 AI startup directory.