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AI-powered fintech Alaan raises $48M, one of the largest Series A rounds in MENA

AI News - TechCrunch
Aug 5, 2025 07:45
Tage Kene-Okafor
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aistartupstechnology

Summary

AI-powered fintech startup Alaan has raised $48 million in a Series A round, marking one of the largest such investments in the MENA region. The company addresses corporate expense management challenges in the Middle East using AI-driven solutions, highlighting growing investor confidence in AI applications within the regional fintech sector.

When Parthi Duraisamy was a consultant at McKinsey’s Dubai office, he discovered that the American Express cards his company relied on for corporate expenses were rarely accepted in the Middle East. This forced Duraisamy to cover significant travel expenses out of pocket and file endless expense reports. “It was a constant pain,” Duraisamy explained on […]
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