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.
The round was led by Peak XV Partners (formerly Sequoia Capital India & SEA) with significant participation from the founders of 885 Capital, Sudeep Ramnani & Jai Mahtani, Y Combinator, 468 Capital, and Pioneer Fund. The round was heavily oversubscribed and includes both primary and secondary funding.
The round also included support from leading regional operators Hosam Arab (Founder of Tabby), Mudassir Sheikha (Founder of Careem), Jeppe Rindom (Founder of Pleo), Khalid Al…
