Overview
Alaan is a fintech company headquartered in Riyadh, Saudi Arabia, that provides corporate card solutions for businesses. The company was founded in 2022 and offers physical and virtual cards designed to streamline expense management and financial controls for organisations.
The company addresses the need for businesses to manage employee spending efficiently whilst maintaining visibility over corporate expenses. Traditional corporate expense management often involves manual processes, delayed reimbursements, and limited real-time oversight. Alaan's offering targets companies seeking faster card issuance, automated spending controls, and improved expense tracking capabilities.
Activities and products
Alaan's primary product is the Alaan Corporate Card, a multi-currency solution available in both physical and virtual formats. The service enables instant card issuance for team members and provides tailored spending controls that organisations can customise according to their requirements. The platform offers real-time tracking and management of company expenses, allowing businesses to monitor spending as transactions occur and maintain financial transparency across their operations.
Stage and funding
Alaan is at seed stage and raised $5 million in seed funding during 2023. The company was founded by Anas Alfaris alongside a team that includes MIT graduates. Beyond the seed funding round, verified information regarding subsequent funding rounds or investor details is not available.
Photograph: Christina @ wocintechchat.com M / Unsplash
Company details
- Legal name
- Alaan
- Website
- www.alaan.com
- Headquarters
- Riyadh, Saudi Arabia
- Founded
- 2022
- Sector
- Fintech
- Funding stage
- Seed